Annovis Bio (NYSE:ANVS) Director Michael Hoffman Buys 76,344 Shares

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

Annovis Bio Price Performance

ANVS stock opened at $2.16 on Friday. Annovis Bio, Inc. has a 52-week low of $1.54 and a 52-week high of $5.50. The company’s 50 day simple moving average is $2.14 and its 200-day simple moving average is $2.82. The firm has a market capitalization of $74.67 million, a P/E ratio of -1.26 and a beta of 1.26.

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

Wall Street Analysts Forecast Growth

ANVS has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Annovis Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 price objective on shares of Annovis Bio in a research note on Tuesday, April 14th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.50.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ANVS. Vanguard Group Inc. grew its position in Annovis Bio by 5.9% in the third quarter. Vanguard Group Inc. now owns 738,003 shares of the company’s stock worth $1,528,000 after acquiring an additional 41,239 shares in the last quarter. Marshall Wace LLP bought a new stake in Annovis Bio in the fourth quarter worth approximately $2,511,000. Renaissance Technologies LLC bought a new stake in Annovis Bio in the first quarter worth approximately $775,000. Geode Capital Management LLC grew its position in Annovis Bio by 20.6% in the fourth quarter. Geode Capital Management LLC now owns 222,132 shares of the company’s stock worth $769,000 after acquiring an additional 37,978 shares in the last quarter. Finally, D.A. Davidson & CO. bought a new stake in Annovis Bio in the fourth quarter worth approximately $556,000. Institutional investors and hedge funds own 15.83% of the company’s stock.

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.