Traders Buy High Volume of Call Options on Annovis Bio (NYSE:ANVS)

Annovis Bio, Inc. (NYSE:ANVS - Get Free Report) was the target of some unusual options trading on Monday. Stock investors purchased 11,176 call options on the stock. This represents an increase of 115% compared to the typical volume of 5,204 call options.

Annovis Bio Stock Performance

Shares of ANVS traded up $4.32 during trading hours on Monday, reaching $15.42. The stock had a trading volume of 22,128,558 shares, compared to its average volume of 1,049,268. Annovis Bio has a 12 month low of $4.53 and a 12 month high of $22.49. The stock has a market capitalization of $172.24 million, a PE ratio of -2.68 and a beta of 1.74. The company's 50-day moving average is $6.81 and its two-hundred day moving average is $9.88.

Annovis Bio (NYSE:ANVS - Get Free Report) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.72) EPS for the quarter, beating analysts' consensus estimates of ($0.87) by $0.15. Equities analysts anticipate that Annovis Bio will post -2.46 earnings per share for the current fiscal year.

Institutional Trading of Annovis Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cetera Advisors LLC acquired a new stake in Annovis Bio during the 1st quarter worth about $122,000. Vanguard Group Inc. grew its stake in shares of Annovis Bio by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 357,942 shares of the company's stock valued at $4,260,000 after buying an additional 20,588 shares during the period. Redmond Asset Management LLC grew its stake in shares of Annovis Bio by 6.1% in the 1st quarter. Redmond Asset Management LLC now owns 36,157 shares of the company's stock valued at $430,000 after buying an additional 2,077 shares during the period. Wealthspire Advisors LLC grew its stake in shares of Annovis Bio by 9.9% in the 4th quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company's stock valued at $206,000 after buying an additional 990 shares during the period. Finally, Greenwich Wealth Management LLC acquired a new stake in shares of Annovis Bio in the 4th quarter valued at about $192,000. 15.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Rodman & Renshaw reiterated a "buy" rating and issued a $67.00 price target on shares of Annovis Bio in a research note on Tuesday, July 2nd. HC Wainwright restated a "buy" rating and set a $23.00 target price on shares of Annovis Bio in a research note on Wednesday, June 12th. Finally, Canaccord Genuity Group cut their target price on Annovis Bio from $36.00 to $26.00 and set a "buy" rating for the company in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Annovis Bio has an average rating of "Moderate Buy" and a consensus target price of $32.20.

Annovis Bio Company Profile

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.