Traders Buy High Volume of Call Options on Annovis Bio (NYSE:ANVS)

Annovis Bio, Inc. (NYSE:ANVS) was the target of unusually large options trading on Tuesday. Stock investors purchased 3,923 call options on the company. This is an increase of 118% compared to the average daily volume of 1,803 call options.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its position in Annovis Bio by 67.9% during the first quarter. Tower Research Capital LLC TRC now owns 2,561 shares of the company’s stock worth $39,000 after buying an additional 1,036 shares during the last quarter. Private Trust Co. NA acquired a new stake in Annovis Bio during the 4th quarter valued at $56,000. Northern Trust Corp acquired a new position in shares of Annovis Bio in the second quarter valued at $145,000. Greenwich Wealth Management LLC acquired a new stake in shares of Annovis Bio during the 4th quarter worth about $192,000. Finally, Wealthspire Advisors LLC boosted its holdings in shares of Annovis Bio by 9.9% during the 4th quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock worth $206,000 after buying an additional 990 shares during the period. 15.83% of the stock is currently owned by institutional investors.

Annovis Bio Price Performance

NYSE:ANVS traded down $1.11 on Tuesday, hitting $9.98. 58,877 shares of the company’s stock were exchanged, compared to its average volume of 263,397. The company has a market cap of $109.88 million, a P/E ratio of -1.63 and a beta of 1.59. The firm has a 50-day moving average price of $10.40 and a 200-day moving average price of $10.10. Annovis Bio has a 52 week low of $5.42 and a 52 week high of $22.49.

Analyst Ratings Changes

ANVS has been the topic of several research reports. Canaccord Genuity Group initiated coverage on shares of Annovis Bio in a research report on Friday, December 29th. They set a “buy” rating and a $36.00 price target on the stock. Brookline Capital Management cut shares of Annovis Bio from a “buy” rating to a “hold” rating and set a $9.00 price target for the company. in a report on Wednesday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Annovis Bio in a research report on Tuesday, April 2nd. Finally, Canaccord Genuity Group started coverage on Annovis Bio in a report on Friday, December 29th. They set a “buy” rating and a $36.00 target price for the company.

About Annovis Bio

Annovis Bio, Inc, a clinical stage drug platform company, develops drugs to treat neurodegeneration. The company's lead product candidate is Buntanetap, which is in Phase 3 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.