Short Interest in Annovis Bio, Inc. (NYSE:ANVS) Grows By 16.7%

Annovis Bio, Inc. (NYSE:ANVS) was the target of a large growth in short interest in 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. Approximately 17.4% of the shares of the stock are sold short. Based on an average daily volume of 505,000 shares, the days-to-cover ratio is currently 3.3 days.

Analyst Ratings Changes

Separately, D. Boral Capital reissued a “hold” rating on shares of Annovis Bio in a research note 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $37.00.

Annovis Bio Price Performance

Shares of NYSE ANVS opened at $1.82 on Friday. The company has a 50 day simple moving average of $3.05 and a 200-day simple moving average of $5.81. The company has a market capitalization of $25.84 million, a P/E ratio of -0.41 and a beta of 1.65. Annovis Bio has a 1 year low of $1.53 and a 1 year high of $20.00.

Institutional Trading of Annovis Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in ANVS. Merit Financial Group LLC increased its holdings 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 worth $496,000 after buying an additional 71,816 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Annovis Bio during the 4th quarter worth approximately $258,000. Quest Partners LLC acquired a new stake in shares of Annovis Bio during the 3rd quarter worth approximately $371,000. Jane Street Group LLC increased its holdings in shares of Annovis Bio by 99.7% during the 4th quarter. Jane Street Group LLC now owns 68,107 shares of the company’s stock worth $343,000 after buying an additional 34,001 shares during the last quarter. Finally, 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 purchasing an additional 22,881 shares during the last quarter. Institutional investors and hedge funds own 15.83% of the company’s stock.

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.