Annovis Bio, Inc. (NYSE:ANVS) Sees Significant Drop in Short Interest

Annovis Bio, Inc. (NYSE:ANVS) saw a large drop in short interest in February. As of February 15th, there was short interest totalling 1,440,000 shares, a drop of 25.4% from the January 31st total of 1,930,000 shares. Based on an average trading volume of 495,200 shares, the days-to-cover ratio is currently 2.9 days.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. D. Boral Capital reissued a “hold” rating on shares of Annovis Bio in a research report on Monday, February 10th. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Annovis Bio in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $37.00.

Institutional Investors Weigh In On Annovis Bio

A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new stake in shares of Annovis Bio in the 3rd quarter worth about $31,000. Two Sigma Investments LP acquired a new stake in shares of Annovis Bio in the fourth quarter valued at approximately $55,000. XTX Topco Ltd bought a new stake in shares of Annovis Bio during the fourth quarter valued at approximately $59,000. Atria Wealth Solutions Inc. acquired a new position in shares of Annovis Bio during the fourth quarter worth approximately $65,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Annovis Bio in the 3rd quarter worth approximately $76,000. 15.83% of the stock is currently owned by institutional investors.

Annovis Bio Price Performance

Shares of NYSE ANVS traded up $0.03 during mid-day trading on Wednesday, hitting $1.69. The company had a trading volume of 224,885 shares, compared to its average volume of 614,797. Annovis Bio has a 12 month low of $1.57 and a 12 month high of $20.00. The stock has a market cap of $24.09 million, a price-to-earnings ratio of -0.38 and a beta of 1.63. The firm’s 50 day simple moving average is $3.88 and its two-hundred day simple moving average is $6.39.

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.