Key Points
- Director Michael Hoffman bought 39,200 shares of Annovis Bio on November 24 at an average price of $4.08 (total $159,936), increasing his stake to 2,519,739 shares — a 1.58% rise — according to an SEC filing.
- Stock and financials: ANVS opened at $4.81, trades above its 50- and 200-day moving averages (~$2.34/$2.44), has a market cap of ~$127.5M and reported EPS of -$0.37 last quarter, while analysts hold a consensus "Hold" rating with a $13.50 target amid mixed buy/hold/sell coverage.
- Company focus: Annovis Bio is a clinical-stage neurodegeneration drug developer whose lead candidate, Buntanetap, has completed Phase 1/2 trials for Alzheimer’s and Parkinson’s disease.
Annovis Bio, Inc. (NYSE:ANVS - Get Free Report) Director Michael Hoffman acquired 39,200 shares of the firm's stock in a transaction dated Monday, November 24th. The shares were acquired at an average price of $4.08 per share, with a total value of $159,936.00. Following the acquisition, the director owned 2,519,739 shares in the company, valued at approximately $10,280,535.12. The trade was a 1.58% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
Annovis Bio Price Performance
Shares of ANVS stock opened at $4.81 on Wednesday. The stock's fifty day moving average price is $2.34 and its 200 day moving average price is $2.44. Annovis Bio, Inc. has a 1-year low of $1.11 and a 1-year high of $7.39. The company has a market cap of $127.54 million, a price-to-earnings ratio of -3.34 and a beta of 1.61.
Annovis Bio (NYSE:ANVS - Get Free Report) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.37) EPS for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.01). As a group, equities research analysts anticipate that Annovis Bio, Inc. will post -2.19 earnings per share for the current year.
Hedge Funds Weigh In On Annovis Bio
Several hedge funds and other institutional investors have recently bought and sold shares of ANVS. JPMorgan Chase & Co. lifted its stake in Annovis Bio by 69.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company's stock valued at $32,000 after acquiring an additional 6,100 shares during the period. Jane Street Group LLC acquired a new stake in shares of Annovis Bio in the second quarter worth $52,000. Warberg Asset Management LLC purchased a new position in shares of Annovis Bio during the first quarter worth $58,000. Marshall Wace LLP acquired a new position in Annovis Bio during the second quarter valued at $197,000. Finally, Geode Capital Management LLC lifted its position in Annovis Bio by 20.1% during the second quarter. Geode Capital Management LLC now owns 183,287 shares of the company's stock valued at $398,000 after purchasing an additional 30,674 shares during the period. Institutional investors and hedge funds own 15.83% of the company's stock.
Analyst Upgrades and Downgrades
ANVS has been the topic of several research analyst reports. HC Wainwright dropped their target price on shares of Annovis Bio from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, September 3rd. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $17.00 price target on shares of Annovis Bio in a report on Tuesday, September 30th. Weiss Ratings reissued a "sell (e+)" rating on shares of Annovis Bio in a report on Monday. Finally, Zacks Research raised Annovis Bio to a "hold" rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $13.50.
Check Out Our Latest Research Report 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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