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

Annovis Bio, Inc. (NYSE:ANVS) was the target of unusually large options trading on Tuesday. Traders bought 3,923 call options on the stock. This represents an increase of 118% compared to the typical volume of 1,803 call options.

Analysts Set New Price Targets

Several analysts have weighed in on ANVS shares. Brookline Capital Management cut Annovis Bio from a “buy” rating to a “hold” rating and set a $9.00 price target on the stock. in a report on Wednesday, February 28th. Canaccord Genuity Group initiated coverage on shares of Annovis Bio in a research note on Friday, December 29th. They issued a “buy” rating and a $36.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Annovis Bio in a research note on Tuesday, April 2nd. Finally, Canaccord Genuity Group initiated coverage on Annovis Bio in a research note on Friday, December 29th. They issued a “buy” rating and a $36.00 target price for the company.

Hedge Funds Weigh In On Annovis Bio

Several hedge funds have recently made changes to their positions in ANVS. Adage Capital Partners GP L.L.C. bought a new stake in Annovis Bio in the third quarter valued at $2,847,000. Private Trust Co. NA purchased a new stake in Annovis Bio in the fourth quarter worth about $56,000. Bank of New York Mellon Corp boosted its position in Annovis Bio by 34.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 34,329 shares of the company’s stock valued at $470,000 after acquiring an additional 8,837 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Annovis Bio during the 4th quarter worth approximately $334,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Annovis Bio by 120.9% during the 1st quarter. Renaissance Technologies LLC now owns 23,197 shares of the company’s stock worth $310,000 after acquiring an additional 12,697 shares during the period. 15.83% of the stock is owned by hedge funds and other institutional investors.

Annovis Bio Price Performance

NYSE ANVS opened at $9.07 on Thursday. Annovis Bio has a 1 year low of $5.42 and a 1 year high of $22.49. The stock has a market capitalization of $99.87 million, a PE ratio of -1.46 and a beta of 1.59. The business’s 50-day moving average is $10.37 and its 200 day moving average is $10.10.

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 is in Phase 3 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.