Annovis Bio Inc. [ANVS] Seeks IRB Approval as Stock moves up 76.56: Why It’s Important

Annovis Bio Inc. [AMEX: ANVS] jumped around 2.94 points on Tuesday, while shares priced at $6.78 at the close of the session, up 76.56%. In a recent announcement, Annovis mentioned its Phase 2 approval from Central Institutional Review Board (IRB) regarding the clinical study among the early-stage PD and AD patients.

The clinical study will be based on two stages that include that treatment of 68 PD and AD patients in a 4 weeks time span with Annovis’ lead compound, ANVS401. The Annovis team will observe the safety and endurability among the early PD patients reviewing the effect of ANVS401 on motor impairment and non-motor symptoms. Among the early AD patients, the team will examine the impact on memory and cognitive function of the patients. Since the company has received a green signal to conduct Phase 2 study, Annovis Bio expects it to complete by the first quarter of next year.

Annovis Bio Inc. stock is now -29.30% down from its year-to-date (YTD) trading value. ANVS Stock saw the intraday high of $10.25 and lowest of $6.67 per share. The company’s 52-week high price is 10.61.

Compared to the average trading volume of 75.81K shares, ANVS reached a trading volume of 47561397 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Annovis Bio Inc. [ANVS]?

The Average True Range (ATR) for Annovis Bio Inc. is set at 0.93 The Price to Book ratio for the last quarter was 2.92, with the Price to Cash per share for the same quarter was set at 1.59.

How has ANVS stock performed recently?

Annovis Bio Inc. [ANVS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 44.26.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ANVS stock in for the last two-week period is set at 68.30, with the RSI for the last a single of trading hit 72.34, and the three-weeks RSI is set at 64.62 for Annovis Bio Inc. [ANVS]. The present Moving Average for the last 50 days of trading for this stock 4.44, while it was recorded at 4.73 for the last single week of trading.

Annovis Bio Inc. [ANVS]: Deeper insight into the fundamentals

Reflecting on the efficiency of the workforce at the company, Annovis Bio Inc. [ANVS] managed to generate an average of -$495,490 per employee.Annovis Bio Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 15.30 and a Current Ratio set at 15.30.

Insider trade positions for Annovis Bio Inc. [ANVS]

There are presently around $1 million, or 10.30% of ANVS stock, in the hands of institutional investors. The top three institutional holders of ANVS stocks are: WORTH VENTURE PARTNERS, LLC with ownership of 143,750, which is approximately New of the company’s market cap and around 37.70% of the total institutional ownership; ZEKE CAPITAL ADVISORS, LLC, holding 27,594 shares of the stock with an approximate value of $0.11 million in ANVS stocks shares; and CANNELL PETER B & CO INC, currently with $38000.0 in ANVS stock with ownership of nearly New of the company’s market capitalization.

Positions in Annovis Bio Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 7 institutional holders increased their position in Annovis Bio Inc. [AMEX:ANVS] by around 193,186 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 193,186 shares, according to the latest SEC report filing. ANVS stock had 7 new institutional investments in for a total of 193,186 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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