Annovis Bio Sees Unusually Large Options Volume (NYSE:ANVS)

Key Points

• Unusual options activity: Traders bought 3,595 put options on Annovis Bio, 139% above its typical daily volume of 1,505 contracts.
• Analyst outlook is mixed but broadly positive: The stock has a consensus “Moderate Buy” rating and an average price target of $11.67, despite ratings ranging from Sell to Strong Buy.
• Shares remain near their 52-week low: ANVS recently traded at $1.81, within a $1.54–$5.50 range, while the company reported a quarterly loss of $0.40 per share that beat estimates by $0.04.

Annovis Bio, Inc. (NYSE:ANVS - Get Free Report) was the recipient of some unusual options trading on Friday. Traders bought 3,595 put options on the company. This represents an increase of 139% compared to the typical daily volume of 1,505 put options.

Analyst Upgrades and Downgrades

ANVS has been the subject of a number of research reports. Weiss Ratings raised shares of Annovis Bio from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, July 6th. Zacks Research raised shares of Annovis Bio to a "hold" rating in a research report on Thursday, July 9th. Finally, Roth Capital started coverage on shares of Annovis Bio in a research note on Tuesday, July 7th. They issued a "buy" rating and a $8.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.67.

Annovis Bio Stock Performance

Shares of NYSE ANVS traded up $0.03 during mid-day trading on Friday, reaching $1.81. 289,466 shares of the company's stock were exchanged, compared to its average volume of 811,850. The firm has a market capitalization of $62.89 million, a price-to-earnings ratio of -1.07 and a beta of 1.25. Annovis Bio has a 52-week low of $1.54 and a 52-week high of $5.50. The company's 50-day moving average is $1.80 and its 200-day moving average is $2.11.

Annovis Bio (NYSE:ANVS - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.04. As a group, equities analysts predict that Annovis Bio will post -1.58 earnings per share for the current fiscal year.

Insider Transactions at Annovis Bio

In other Annovis Bio news, Director Michael B. Hoffman acquired 76,344 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $1.87 per share, with a total value of $142,763.28. Following the completion of the acquisition, the director owned 3,364,883 shares in the company, valued at approximately $6,292,331.21. This trade represents a 2.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 20.80% of the company's stock.

Hedge Funds Weigh In On Annovis Bio

Several large investors have recently made changes to their positions in ANVS. Bank of New York Mellon Corp acquired a new stake in Annovis Bio in the 2nd quarter valued at approximately $29,000. Quadcap Wealth Management LLC acquired a new position in Annovis Bio during the second quarter worth $30,000. JPMorgan Chase & Co. lifted its stake in Annovis Bio by 69.3% during the second quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company's stock worth $32,000 after purchasing an additional 6,100 shares in the last quarter. RKL Wealth Management LLC purchased a new position in shares of Annovis Bio during the fourth quarter worth $35,000. Finally, RFG Advisory LLC purchased a new position in shares of Annovis Bio during the fourth quarter worth $43,000. 15.83% of the stock is currently owned by institutional investors and hedge funds.

About Annovis Bio

Annovis Bio, Inc NYSE: ANVS is a clinical-stage biotechnology company headquartered in Tampa, Florida, focused on the discovery and development of small molecule therapeutics for neurodegenerative and neuroinflammatory disorders. Leveraging a proprietary platform that targets protein trafficking and translational dysregulation, Annovis aims to restore cellular homeostasis by modulating the production and clearance of disease-related proteins. The company's pipeline is designed to address critical pathways implicated in Alzheimer's disease, Parkinson's disease, multiple sclerosis and other central nervous system conditions.

The company's lead asset, ANVS401 (Posiphen®), is an oral small molecule that has been evaluated in Phase 1 and Phase 2 clinical trials to reduce levels of amyloid precursor protein and its toxic fragments in Alzheimer's patients.

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