Annovis Bio Target of Unusually High Options Trading (NYSE:ANVS)

Annovis Bio, Inc. (NYSE:ANVS) saw unusually large options trading activity on Monday. Stock traders bought 7,789 put options on the company. This represents an increase of approximately 209% compared to the average volume of 2,519 put options.

Annovis Bio Stock Down 58.1 %

ANVS traded down $10.46 during trading on Monday, reaching $7.55. The company had a trading volume of 5,942,511 shares, compared to its average volume of 337,783. The stock has a market cap of $83.13 million, a P/E ratio of -2.56 and a beta of 1.59. The business has a 50 day simple moving average of $10.64 and a 200-day simple moving average of $10.31. Annovis Bio has a 52 week low of $5.23 and a 52 week high of $22.49.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings results on Friday, March 29th. The company reported ($1.09) earnings per share (EPS) for the quarter. As a group, equities research analysts expect that Annovis Bio will post -3.35 EPS for the current fiscal year.

Institutional Trading of Annovis Bio

Institutional investors and hedge funds have recently made changes to their positions in the business. Private Trust Co. NA bought a new stake in shares of Annovis Bio during the fourth quarter worth $56,000. Greenwich Wealth Management LLC bought a new stake in shares of Annovis Bio in the fourth quarter valued at about $192,000. Wealthspire Advisors LLC raised its holdings in shares of Annovis Bio by 9.9% in the fourth quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock valued at $206,000 after acquiring an additional 990 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of Annovis Bio in the third quarter valued at about $2,847,000. 15.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ANVS has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Annovis Bio in a research note on Tuesday, April 2nd. Brookline Capital Management lowered shares of Annovis Bio from a “buy” rating to a “hold” rating and set a $9.00 price objective for the company. in a report on Wednesday, February 28th.

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.