Stock Traders Buy Large Volume of Call Options on Annovis Bio (NYSE:ANVS)

Annovis Bio, Inc. (NYSE:ANVS - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Stock investors acquired 3,923 call options on the stock. This is an increase of 118% compared to the average volume of 1,803 call options.

Annovis Bio Trading Down 9.7 %

Shares of ANVS traded down $1.08 during mid-day trading on Tuesday, hitting $10.01. 192,403 shares of the company traded hands, compared to its average volume of 265,611. The business has a 50-day moving average of $10.39 and a 200 day moving average of $10.11. Annovis Bio has a one year low of $5.42 and a one year high of $22.49. The stock has a market capitalization of $110.21 million, a price-to-earnings ratio of -1.61 and a beta of 1.59.

Hedge Funds Weigh In On Annovis Bio

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its holdings in Annovis Bio by 67.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,561 shares of the company's stock valued at $39,000 after buying an additional 1,036 shares during the period. Private Trust Co. NA acquired a new stake in Annovis Bio in the fourth quarter worth $56,000. Northern Trust Corp acquired a new stake in Annovis Bio in the second quarter worth $145,000. Greenwich Wealth Management LLC acquired a new stake in Annovis Bio in the fourth quarter worth $192,000. Finally, Wealthspire Advisors LLC raised its holdings in Annovis Bio by 9.9% in the fourth quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company's stock worth $206,000 after purchasing an additional 990 shares during the period. 15.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ANVS has been the topic of several research analyst reports. Canaccord Genuity Group initiated coverage on shares of Annovis Bio in a research note on Friday, December 29th. They set a "buy" rating and a $36.00 price objective on the stock. Canaccord Genuity Group began coverage on shares of Annovis Bio in a research note on Friday, December 29th. They set a "buy" rating and a $36.00 price target on the stock. HC Wainwright reissued a "buy" rating and set a $30.00 price target on shares of Annovis Bio in a research note on Tuesday, April 2nd. Finally, Brookline Capital Management cut shares of Annovis Bio from a "buy" rating to a "hold" rating and set a $9.00 price target on the stock. in a research note on Wednesday, February 28th.

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.