Annovis Bio, Inc. (NYSE:ANVS) Sees Large Increase in Short Interest

Annovis Bio, Inc. (NYSE:ANVS) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 1,680,000 shares, an increase of 16.7% from the February 13th total of 1,440,000 shares. Based on an average trading volume of 505,000 shares, the short-interest ratio is presently 3.3 days. Approximately 17.4% of the shares of the company are short sold.

Institutional Investors Weigh In On Annovis Bio

Several large investors have recently added to or reduced their stakes in ANVS. Merit Financial Group LLC increased its position in Annovis Bio by 269.0% in the fourth quarter. Merit Financial Group LLC now owns 98,516 shares of the company’s stock worth $496,000 after buying an additional 71,816 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Annovis Bio during the fourth quarter valued at $258,000. Quest Partners LLC acquired a new position in shares of Annovis Bio during the third quarter valued at $371,000. Jane Street Group LLC increased its holdings in shares of Annovis Bio by 99.7% during the fourth quarter. Jane Street Group LLC now owns 68,107 shares of the company’s stock valued at $343,000 after purchasing an additional 34,001 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Annovis Bio by 30.0% during the third quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock valued at $799,000 after purchasing an additional 22,881 shares during the period. 15.83% of the stock is owned by institutional investors and hedge funds.

Annovis Bio Stock Down 0.3 %

NYSE ANVS traded down $0.01 during trading hours on Thursday, hitting $1.83. The company had a trading volume of 5,582 shares, compared to its average volume of 766,425. Annovis Bio has a fifty-two week low of $1.53 and a fifty-two week high of $20.00. The business has a fifty day simple moving average of $3.12 and a 200-day simple moving average of $5.84. The firm has a market cap of $25.98 million, a P/E ratio of -0.41 and a beta of 1.65.

Wall Street Analyst Weigh In

Separately, D. Boral Capital reissued a “hold” rating on shares of Annovis Bio in a research report on Monday, February 10th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $37.00.

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.