Investors Buy Large Volume of Annovis Bio Put Options (NYSE:ANVS)

Annovis Bio, Inc. (NYSE:ANVS) saw unusually large options trading activity on Friday. Stock investors acquired 3,595 put options on the company. This is an increase of 139% compared to the average volume of 1,505 put options.

Insider Buying and Selling at Annovis Bio

In related news, Director Michael B. Hoffman purchased 76,344 shares of Annovis Bio stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $1.87 per share, for a total transaction of $142,763.28. Following the completion of the transaction, the director owned 3,364,883 shares in the company, valued at $6,292,331.21. This represents a 2.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 20.80% of the company’s stock.

Institutional Trading of Annovis Bio

Institutional investors have recently modified their holdings of the business. Empery Asset Management LP bought a new position in Annovis Bio in the 2nd quarter worth approximately $4,466,745,000. Marshall Wace LLP purchased a new stake in shares of Annovis Bio during the fourth quarter worth $2,511,000. Renaissance Technologies LLC purchased a new stake in shares of Annovis Bio during the first quarter worth $775,000. BlackRock Inc. bought a new position in shares of Annovis Bio in the second quarter worth $465,000. Finally, D.A. Davidson & CO. purchased a new position in shares of Annovis Bio in the fourth quarter valued at $556,000. 15.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings raised shares of Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Zacks Research upgraded shares of Annovis Bio to a “hold” rating in a research note on Thursday, July 9th. Finally, Roth Capital began coverage on shares of Annovis Bio in a report on Tuesday, July 7th. They issued a “buy” rating and a $8.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.67.

Annovis Bio Stock Up 3.1%

ANVS traded up $0.06 during trading hours on Friday, hitting $1.84. The stock had a trading volume of 949,712 shares, compared to its average volume of 562,600. The company’s fifty day simple moving average is $1.80 and its 200 day simple moving average is $2.11. Annovis Bio has a 1 year low of $1.54 and a 1 year high of $5.50. The stock has a market cap of $63.93 million, a PE ratio of -1.03 and a beta of 1.25.

Annovis Bio (NYSE:ANVS) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. As a group, equities analysts expect that Annovis Bio will post -1.58 EPS for the current year.

About Annovis Bio

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.