Annovis Bio, Inc. (NYSE:ANVS) Short Interest Up 16.7% in February

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

Annovis Bio Stock Up 3.1 %

Annovis Bio stock traded up $0.06 during trading hours on Wednesday, hitting $1.84. The stock had a trading volume of 312,387 shares, compared to its average volume of 767,013. The company has a 50-day moving average of $3.19 and a two-hundred day moving average of $5.87. Annovis Bio has a fifty-two week low of $1.53 and a fifty-two week high of $20.00. The company has a market cap of $26.12 million, a PE ratio of -0.41 and a beta of 1.65.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Annovis Bio by 30.0% in the 3rd quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock valued at $799,000 after buying an additional 22,881 shares during the period. Merit Financial Group LLC boosted its position in shares of Annovis Bio by 269.0% during the 4th quarter. Merit Financial Group LLC now owns 98,516 shares of the company’s stock valued at $496,000 after acquiring an additional 71,816 shares in the last quarter. Jane Street Group LLC increased its stake in Annovis Bio by 99.7% in the fourth quarter. Jane Street Group LLC now owns 68,107 shares of the company’s stock valued at $343,000 after acquiring an additional 34,001 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Annovis Bio in the fourth quarter worth about $258,000. Finally, Quest Partners LLC bought a new position in Annovis Bio during the third quarter worth about $371,000. 15.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, D. Boral Capital reaffirmed a “hold” rating on shares of Annovis Bio in a research report on Monday, February 10th. One equities research 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 data from MarketBeat.com, Annovis Bio has a consensus rating of “Buy” and an average price target of $37.00.

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.