Empery Asset Management LP Takes $4.47 Billion Position in Annovis Bio, Inc. $ANVS

Key Points

• Empery Asset Management purchased 2.4 million Annovis Bio shares worth approximately $4.47 billion, representing 6.93% of the company and 5.2% of its portfolio.
• Other institutional investors also adjusted their positions, and institutional ownership now accounts for 15.83% of Annovis Bio’s outstanding stock.
• ANVS opened at $1.81, near its 52-week low, while analysts maintain a “Moderate Buy” consensus with an average price target of $11.67; the company also exceeded quarterly EPS expectations.

Empery Asset Management LP purchased a new position in shares of Annovis Bio, Inc. (NYSE:ANVS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,401,476 shares of the company's stock, valued at approximately $4,466,745,000. Annovis Bio comprises 5.2% of Empery Asset Management LP's investment portfolio, making the stock its 6th largest holding. Empery Asset Management LP owned about 6.93% of Annovis Bio as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ANVS. Vanguard Group Inc. raised its holdings in Annovis Bio by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 738,003 shares of the company's stock valued at $1,528,000 after buying an additional 41,239 shares during the last quarter. Marshall Wace LLP bought a new stake in Annovis Bio during the 4th quarter worth approximately $2,511,000. Renaissance Technologies LLC acquired a new position in Annovis Bio in the 1st quarter valued at approximately $775,000. BlackRock Inc. acquired a new position in Annovis Bio in the 2nd quarter valued at approximately $465,000. Finally, Geode Capital Management LLC raised its stake in shares of Annovis Bio by 20.6% during the fourth quarter. Geode Capital Management LLC now owns 222,132 shares of the company's stock valued at $769,000 after acquiring an additional 37,978 shares during the last quarter. Institutional investors and hedge funds own 15.83% of the company's stock.

Annovis Bio Stock Performance

NYSE:ANVS opened at $1.81 on Friday. Annovis Bio, Inc. has a fifty-two week low of $1.54 and a fifty-two week high of $5.50. The company has a 50 day simple moving average of $1.80 and a two-hundred day simple moving average of $2.07. The company has a market capitalization of $77.12 million, a PE ratio of -1.01 and a beta of 1.25.

Annovis Bio (NYSE:ANVS - Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.45) by $0.05. Research analysts predict that Annovis Bio, Inc. will post -1.58 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ANVS shares. Weiss Ratings upgraded shares of Annovis Bio from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, July 6th. Zacks Research upgraded Annovis Bio to a "hold" rating in a report on Thursday, July 9th. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Annovis Bio in a research report on Tuesday. Finally, Roth Capital began coverage on Annovis Bio in a report on Tuesday, July 7th. They set a "buy" rating and a $8.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $11.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source