Key Points
- Director Michael Hoffman purchased 20,000 shares at $3.50 on Nov. 21 for $70,000, increasing his holdings to 2,490,539 shares (a 0.81% ownership rise), and the trade was disclosed in an SEC filing.
- Shares traded at $3.79 (down $0.09) with ~1.97M volume versus a 3.24M average, a 52-week range of $1.11–$7.52, market capitalization of about $100.45M, and a negative P/E of -2.63.
- Analysts are mixed—two Buy, two Hold and one Sell—giving a consensus rating of Hold with a $13.50 target; Annovis is a clinical-stage company developing lead candidate Buntanetap for neurodegenerative diseases.
Annovis Bio, Inc. (NYSE:ANVS - Get Free Report) Director Michael Hoffman purchased 20,000 shares of the firm's stock in a transaction on Friday, November 21st. The stock was bought at an average price of $3.50 per share, for a total transaction of $70,000.00. Following the purchase, the director owned 2,490,539 shares in the company, valued at approximately $8,716,886.50. This represents a 0.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Annovis Bio Price Performance
Shares of Annovis Bio stock traded down $0.09 during trading on Friday, reaching $3.79. 1,965,505 shares of the stock traded hands, compared to its average volume of 3,244,462. Annovis Bio, Inc. has a 52-week low of $1.11 and a 52-week high of $7.52. The business has a fifty day simple moving average of $2.26 and a two-hundred day simple moving average of $2.39. The company has a market capitalization of $100.45 million, a price-to-earnings ratio of -2.63 and a beta of 1.61.
Annovis Bio (NYSE:ANVS - Get Free Report) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.01). On average, research analysts predict that Annovis Bio, Inc. will post -2.19 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Annovis Bio
Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised 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 period. Jane Street Group LLC bought a new position in shares of Annovis Bio during the second quarter valued at approximately $52,000. Warberg Asset Management LLC bought a new position in shares of Annovis Bio during the first quarter valued at approximately $58,000. Marshall Wace LLP purchased a new stake in shares of Annovis Bio in the second quarter worth approximately $197,000. Finally, Geode Capital Management LLC lifted its stake in shares of Annovis Bio by 20.1% during the 2nd quarter. Geode Capital Management LLC now owns 183,287 shares of the company's stock worth $398,000 after acquiring an additional 30,674 shares during the last quarter. 15.83% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
ANVS has been the subject of several research reports. Zacks Research upgraded shares of Annovis Bio to a "hold" rating in a research report on Friday, August 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Annovis Bio in a report on Wednesday, October 8th. Canaccord Genuity Group reissued a "buy" rating and set a $17.00 price objective on shares of Annovis Bio in a research note on Tuesday, September 30th. Finally, HC Wainwright lowered their price objective on Annovis Bio from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Annovis Bio presently has an average rating of "Hold" and a consensus target price of $13.50.
Check Out Our Latest Stock Analysis on Annovis Bio
Annovis Bio Company Profile
(
Get Free Report)
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.
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