Annovis Bio (NYSE:ANVS) Director Buys $142,763.28 in Stock

Annovis Bio, Inc. (NYSE:ANVS) Director Michael Hoffman purchased 76,344 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of $1.87 per share, for a total transaction of $142,763.28. Following the purchase, the director owned 3,364,883 shares in the company, valued at $6,292,331.21. The trade was a 2.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Annovis Bio Stock Up 4.4%

Shares of ANVS opened at $2.25 on Friday. The company’s fifty day moving average is $2.14 and its 200-day moving average is $2.82. The firm has a market cap of $77.78 million, a price-to-earnings ratio of -1.31 and a beta of 1.26. Annovis Bio, Inc. has a 12 month low of $1.54 and a 12 month high of $5.50.

Annovis Bio (NYSE:ANVS) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.23).

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ANVS. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 price objective on shares of Annovis Bio in a report on Tuesday, April 14th. Weiss Ratings downgraded shares of Annovis Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.50.

Institutional Trading of Annovis Bio

Several large investors have recently modified their holdings of ANVS. JPMorgan Chase & Co. grew its position in Annovis Bio by 69.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock worth $32,000 after purchasing an additional 6,100 shares during the last quarter. RKL Wealth Management LLC acquired a new stake in Annovis Bio in the 4th quarter worth $35,000. RFG Advisory LLC acquired a new stake in Annovis Bio in the 4th quarter worth $43,000. Wells Fargo & Company MN grew its position in Annovis Bio by 46.8% in the 4th quarter. Wells Fargo & Company MN now owns 14,307 shares of the company’s stock worth $50,000 after purchasing an additional 4,561 shares during the last quarter. Finally, Koshinski Asset Management Inc. acquired a new stake in Annovis Bio in the 4th quarter worth $52,000. 15.83% of the stock is owned by institutional investors.

Annovis Bio Company Profile

Annovis Bio, Inc (NYSE: ANVS) is a clinical-stage biotechnology company headquartered in Tampa, Florida, focused on the discovery and development of small molecule therapeutics for neurodegenerative and neuroinflammatory disorders. Leveraging a proprietary platform that targets protein trafficking and translational dysregulation, Annovis aims to restore cellular homeostasis by modulating the production and clearance of disease-related proteins. The company’s pipeline is designed to address critical pathways implicated in Alzheimer’s disease, Parkinson’s disease, multiple sclerosis and other central nervous system conditions.

The company’s lead asset, ANVS401 (Posiphen®), is an oral small molecule that has been evaluated in Phase 1 and Phase 2 clinical trials to reduce levels of amyloid precursor protein and its toxic fragments in Alzheimer’s patients.