Short Interest in Annovis Bio, Inc. (NYSE:ANVS) Rises By 16.7%

Annovis Bio, Inc. (NYSE:ANVS) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,680,000 shares, an increase of 16.7% from the February 13th total of 1,440,000 shares. Based on an average daily volume of 505,000 shares, the short-interest ratio is currently 3.3 days. Approximately 17.4% of the company’s stock are sold short.

Annovis Bio Trading Up 3.1 %

NYSE ANVS traded up $0.06 during trading on Wednesday, hitting $1.84. 312,387 shares of the company traded hands, compared to its average volume of 767,013. Annovis Bio has a 12 month low of $1.53 and a 12 month high of $20.00. The business has a fifty day simple moving average of $3.19 and a 200 day simple moving average of $5.87. The company has a market capitalization of $26.12 million, a P/E ratio of -0.41 and a beta of 1.65.

Institutional Investors Weigh In On Annovis Bio

A number of large investors have recently added to or reduced their stakes in ANVS. JPMorgan Chase & Co. bought a new position in shares of Annovis Bio in the third quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB bought a new position in Annovis Bio in the 3rd quarter worth $76,000. Two Sigma Investments LP acquired a new position in Annovis Bio during the 4th quarter worth $55,000. XTX Topco Ltd bought a new stake in Annovis Bio during the fourth quarter valued at about $59,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Annovis Bio in the fourth quarter valued at about $65,000. Institutional investors own 15.83% of the company’s stock.

Wall Street Analyst Weigh In

Separately, D. Boral Capital reaffirmed a “hold” rating on shares of Annovis Bio in a research note on Monday, February 10th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Annovis Bio currently has an average rating of “Buy” and an average price target of $37.00.

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 has completed three Phase 1/2 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.