Annovis Bio, Inc. (NYSE:ANVS) Short Interest Up 11.1% in March

Annovis Bio, Inc. (NYSE:ANVS) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 1,500,000 shares, a growth of 11.1% from the March 15th total of 1,350,000 shares. Based on an average daily volume of 268,500 shares, the days-to-cover ratio is currently 5.6 days.

Annovis Bio Trading Down 9.7 %

Shares of NYSE:ANVS traded down $1.08 during midday trading on Tuesday, hitting $10.01. The stock had a trading volume of 192,403 shares, compared to its average volume of 265,611. The company has a market capitalization of $110.21 million, a PE ratio of -1.61 and a beta of 1.59. Annovis Bio has a 1 year low of $5.42 and a 1 year high of $22.49. The stock has a 50 day moving average price of $10.40 and a two-hundred day moving average price of $10.10.

Institutional Trading of Annovis Bio

A number of institutional investors have recently added to or reduced their stakes in ANVS. Vanguard Group Inc. raised its position in Annovis Bio by 30.5% during the fourth quarter. Vanguard Group Inc. now owns 337,354 shares of the company’s stock worth $6,309,000 after acquiring an additional 78,824 shares during the last quarter. Northern Trust Corp raised its position in Annovis Bio by 185.3% during the fourth quarter. Northern Trust Corp now owns 29,048 shares of the company’s stock worth $543,000 after acquiring an additional 18,868 shares during the last quarter. Wealthspire Advisors LLC raised its position in Annovis Bio by 9.9% during the fourth quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock worth $206,000 after acquiring an additional 990 shares during the last quarter. Greenwich Wealth Management LLC acquired a new position in Annovis Bio during the fourth quarter worth about $192,000. Finally, Private Trust Co. NA acquired a new position in Annovis Bio during the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 15.83% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ANVS. Canaccord Genuity Group began coverage on shares of Annovis Bio in a research report on Friday, December 29th. They set a “buy” rating and a $36.00 price objective on the stock. Brookline Capital Management downgraded shares of Annovis Bio from a “buy” rating to a “hold” rating and set a $9.00 target price on the stock. in a report on Wednesday, February 28th. Canaccord Genuity Group started coverage on shares of Annovis Bio in a report on Friday, December 29th. They issued a “buy” rating and a $36.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Annovis Bio in a report on Tuesday, April 2nd.

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.