Key Points
- Director Michael Hoffman bought 5 million Annovis Bio shares for $5 million at $1 per share, increasing his holdings by 148.59% to about 8.36 million shares.
- ANVS opened at $0.82, with a 52-week range of $0.62 to $5.50 and a market capitalization of approximately $35.1 million.
- Analysts’ consensus rating is Hold, with an average price target of $12; ratings range from Buy to Sell.
Annovis Bio, Inc. (NYSE:ANVS - Get Free Report) Director Michael Hoffman acquired 5,000,000 shares of the company's stock in a transaction that occurred on Friday, November 6th. The stock was purchased at an average cost of $1.00 per share, for a total transaction of $5,000,000.00. Following the acquisition, the director owned 8,364,883 shares in the company, valued at approximately $8,364,883. This trade represents a 148.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.
Annovis Bio Stock Performance
Shares of ANVS opened at $0.82 on Friday. Annovis Bio, Inc. has a 52-week low of $0.62 and a 52-week high of $5.50. The firm has a market capitalization of $35.08 million, a PE ratio of -0.46 and a beta of 1.36. The stock has a 50 day simple moving average of $1.18 and a 200 day simple moving average of $1.88.
Annovis Bio (NYSE:ANVS - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.05. Equities research analysts predict that Annovis Bio, Inc. will post -1.32 EPS for the current fiscal year.
Institutional Investors Weigh In On Annovis Bio
Institutional investors and hedge funds have recently made changes to their positions in the business. Empery Asset Management LP purchased a new stake in Annovis Bio in the second quarter worth approximately $4,466,745. Renaissance Technologies LLC bought a new position in Annovis Bio in the first quarter worth about $775,000. Quadcap Wealth Management LLC acquired a new position in Annovis Bio during the second quarter worth $30,000. First National Trust Co raised its position in shares of Annovis Bio by 50.0% during the 2nd quarter. First National Trust Co now owns 60,000 shares of the company's stock valued at $112,000 after acquiring an additional 20,000 shares during the last quarter. Finally, StoneX Group Inc. grew its position in Annovis Bio by 65.9% during the third quarter. StoneX Group Inc. now owns 23,996 shares of the company's stock worth $30,000 after buying an additional 9,531 shares in the last quarter. Institutional investors and hedge funds own 15.83% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently issued reports on ANVS. Roth Capital dropped their price objective on shares of Annovis Bio from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Thursday, August 27th. Wall Street Zen downgraded Annovis Bio from a "sell" rating to a "strong sell" rating in a research report on Monday, September 28th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Annovis Bio in a research note on Friday, October 2nd. Finally, Canaccord Genuity Group restated a "buy" rating on shares of Annovis Bio in a report on Tuesday, August 18th. Two investment 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $12.00.
Check Out Our Latest Analysis on ANVS
Annovis Bio Company Profile
(
Get Free Report)
Annovis Bio, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative diseases, including Alzheimer's disease and Parkinson's disease. The company's research centers on therapies designed to address mechanisms associated with neurodegeneration rather than treating only individual symptoms.
Annovis Bio's lead product candidate is buntanetap, formerly known as ANVS401. Buntanetap is an orally administered small molecule being investigated for its potential to reduce the production of multiple neurotoxic proteins linked to neurodegenerative disorders.
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