Key Points
- Director Michael Hoffman bought 76,344 Annovis Bio shares on May 20 at an average price of $1.87, a transaction worth about $142,763.
- After the purchase, Hoffman’s holdings increased to 3,364,883 shares, lifting his ownership by 2.32%; the trade was disclosed in an SEC filing.
- Annovis Bio’s stock was up 5.6% and recently traded around $2.16, while the company also reported a quarterly loss of $0.63 per share, wider than the expected $0.40 loss.
Annovis Bio, Inc. (NYSE:ANVS - Get Free Report) Director Michael Hoffman bought 76,344 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $1.87 per share, with a total value of $142,763.28. Following the completion of the transaction, the director directly owned 3,364,883 shares of the company's stock, valued at approximately $6,292,331.21. This represents a 2.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Annovis Bio Stock Up 5.6%
ANVS stock opened at $2.16 on Friday. The company has a market capitalization of $74.67 million, a price-to-earnings ratio of -1.26 and a beta of 1.26. Annovis Bio, Inc. has a 12 month low of $1.54 and a 12 month high of $5.50. The firm has a 50 day moving average of $2.14 and a two-hundred day moving average of $2.82.
Annovis Bio (NYSE:ANVS - Get Free Report) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.23).
Analyst Ratings Changes
Several research firms recently issued reports on ANVS. Weiss Ratings downgraded shares of Annovis Bio from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, April 29th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $17.00 price objective on shares of Annovis Bio in a report on Tuesday, April 14th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $13.50.
Check Out Our Latest Analysis on Annovis Bio
Institutional Trading of Annovis Bio
A number of hedge funds have recently bought and sold shares of ANVS. Renaissance Technologies LLC acquired a new stake in Annovis Bio in the 1st quarter worth $775,000. Virtu Financial LLC acquired a new stake in Annovis Bio in the 4th quarter worth $91,000. NewEdge Advisors LLC acquired a new stake in Annovis Bio in the 4th quarter worth $71,000. Bridgeway Capital Management LLC grew its position in Annovis Bio by 25.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 24,400 shares of the company's stock worth $84,000 after purchasing an additional 5,000 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Annovis Bio in the 4th quarter worth $215,000. 15.83% of the stock is owned by institutional investors.
Annovis Bio Company Profile
(
Get Free Report)
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.
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