Maria-Luisa Maccecchini Acquires 97,561 Shares of Annovis Bio (NYSE:ANVS) Stock

Annovis Bio, Inc. (NYSE:ANVS) CEO Maria-Luisa Maccecchini bought 97,561 shares of the business’s stock in a transaction on Tuesday, October 28th. The stock was acquired at an average cost of $2.05 per share, for a total transaction of $200,000.05. Following the acquisition, the chief executive officer directly owned 1,212,020 shares of the company’s stock, valued at $2,484,641. The trade was a 8.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Annovis Bio Trading Down 5.2%

NYSE:ANVS opened at $2.30 on Friday. The stock has a 50 day moving average of $2.14 and a 200-day moving average of $2.32. The firm has a market capitalization of $56.31 million, a PE ratio of -1.60 and a beta of 1.61. Annovis Bio, Inc. has a 52 week low of $1.11 and a 52 week high of $7.52.

Annovis Bio (NYSE:ANVS) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.01). As a group, analysts predict that Annovis Bio, Inc. will post -2.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ANVS has been the subject of several analyst reports. HC Wainwright reduced their price target on shares of Annovis Bio from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $17.00 target price on shares of Annovis Bio in a research note on Tuesday, September 30th. Zacks Research upgraded shares of Annovis Bio to a “hold” rating in a research report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annovis Bio in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.50.

Hedge Funds Weigh In On Annovis Bio

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of Annovis Bio by 69.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock worth $32,000 after buying an additional 6,100 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Annovis Bio during the second quarter valued at approximately $52,000. Warberg Asset Management LLC acquired a new position in shares of Annovis Bio during the first quarter valued at approximately $58,000. Marshall Wace LLP bought a new stake in Annovis Bio during the second quarter worth approximately $197,000. Finally, Geode Capital Management LLC lifted its position in Annovis Bio by 20.1% in the second quarter. Geode Capital Management LLC now owns 183,287 shares of the company’s stock worth $398,000 after purchasing an additional 30,674 shares during the period. Institutional investors own 15.83% of the company’s stock.

Annovis Bio Company Profile

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.