Annovis Bio, Inc. (NYSE:ANVS) Short Interest Update

Annovis Bio, Inc. (NYSE:ANVS - Get Free Report) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 1,310,000 shares, a drop of 5.8% from the November 15th total of 1,390,000 shares. Based on an average daily trading volume, of 254,500 shares, the short-interest ratio is currently 5.1 days.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ANVS. HC Wainwright reissued a "buy" rating and set a $30.00 price objective on shares of Annovis Bio in a research report on Monday, November 11th. Maxim Group raised Annovis Bio from a "hold" rating to a "buy" rating and set a $25.00 price objective for the company in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Annovis Bio has an average rating of "Buy" and an average target price of $32.17.

Annovis Bio Trading Up 1.6 %

NYSE ANVS traded up $0.08 on Tuesday, reaching $5.08. The company's stock had a trading volume of 320,774 shares, compared to its average volume of 722,847. The business has a 50-day moving average price of $7.53 and a 200 day moving average price of $8.19. The firm has a market cap of $70.09 million, a PE ratio of -1.14 and a beta of 1.59. Annovis Bio has a 52 week low of $4.53 and a 52 week high of $22.49.

Annovis Bio (NYSE:ANVS - Get Free Report) last announced its earnings results on Friday, November 8th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.33). Analysts anticipate that Annovis Bio will post -2.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ANVS. Wilmington Savings Fund Society FSB bought a new position in Annovis Bio in the 3rd quarter worth approximately $76,000. Geode Capital Management LLC raised its position in Annovis Bio by 30.0% in the 3rd quarter. Geode Capital Management LLC now owns 99,114 shares of the company's stock valued at $799,000 after buying an additional 22,881 shares during the last quarter. State Street Corp increased its stake in Annovis Bio by 23.7% in the 3rd quarter. State Street Corp now owns 36,035 shares of the company's stock valued at $290,000 after buying an additional 6,900 shares during the last quarter. Quest Partners LLC acquired a new position in Annovis Bio during the third quarter valued at approximately $371,000. Finally, Greenwich Wealth Management LLC raised its position in Annovis Bio by 9.3% during the third quarter. Greenwich Wealth Management LLC now owns 16,475 shares of the company's stock worth $133,000 after acquiring an additional 1,400 shares in the last quarter. 15.83% of the stock is owned by institutional investors.

About Annovis Bio

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.