Where Do Hedge Funds Stand On Annovis Bio, Inc. (ANVS)?

In this article we will take a look at whether hedge funds think Annovis Bio, Inc. (NYSE:ANVS) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get tips from investment bankers and industry insiders. Sure they sometimes fail miserably, but their consensus stock picks historically outperformed the market after adjusting for known risk factors.

Annovis Bio, Inc. (NYSE:ANVS) was in 6 hedge funds’ portfolios at the end of the first quarter of 2021. The all time high for this statistic was previously 3. This means the bullish number of hedge fund positions in this stock currently sits at its all time high. ANVS investors should be aware of an increase in support from the world’s most elite money managers recently. There were 1 hedge funds in our database with ANVS holdings at the end of December. Our calculations also showed that ANVS isn’t among the 30 most popular stocks among hedge funds (click for Q1 rankings).

In today’s marketplace there are many gauges market participants put to use to size up their stock investments. Two of the best gauges are hedge fund and insider trading interest. Our experts have shown that, historically, those who follow the top picks of the elite investment managers can outclass their index-focused peers by a solid amount (see the details here). Also, our monthly newsletter’s portfolio of long stock picks returned 206.8% since March 2017 (through May 2021) and beat the S&P 500 Index by more than 115 percentage points. You can download a sample issue of this newsletter on our website .

Nick Thakore of Diametric Capital

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, an activist hedge fund owns nearly 40% of this $24 biotech stock and is trying to buy the rest for around $50. So, we recommended a long position to our monthly premium newsletter subscribers. We go through lists like the 10 best battery stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Keeping this in mind we’re going to take a look at the latest hedge fund action encompassing Annovis Bio, Inc. (NYSE:ANVS).

Do Hedge Funds Think ANVS Is A Good Stock To Buy Now?

At the end of March, a total of 6 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 500% from the previous quarter. On the other hand, there were a total of 0 hedge funds with a bullish position in ANVS a year ago. So, let’s see which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Neil Shahrestani’s Ikarian Capital has the number one position in Annovis Bio, Inc. (NYSE:ANVS), worth close to $5.4 million, amounting to 0.2% of its total 13F portfolio. Coming in second is AIGH Investment Partners, managed by Orin Hirschman, which holds a $3.1 million position; the fund has 0.7% of its 13F portfolio invested in the stock. Other professional money managers that hold long positions contain Renaissance Technologies, Nick Thakore’s Diametric Capital and Gavin Saitowitz and Cisco J. del Valle’s Prelude Capital (previously Springbok Capital). In terms of the portfolio weights assigned to each position AIGH Investment Partners allocated the biggest weight to Annovis Bio, Inc. (NYSE:ANVS), around 0.65% of its 13F portfolio. Diametric Capital is also relatively very bullish on the stock, dishing out 0.36 percent of its 13F equity portfolio to ANVS.

As industrywide interest jumped, key hedge funds have jumped into Annovis Bio, Inc. (NYSE:ANVS) headfirst. Ikarian Capital, managed by Neil Shahrestani, created the most outsized position in Annovis Bio, Inc. (NYSE:ANVS). Ikarian Capital had $5.4 million invested in the company at the end of the quarter. Renaissance Technologies also initiated a $0.6 million position during the quarter. The other funds with new positions in the stock are Nick Thakore’s Diametric Capital, Gavin Saitowitz and Cisco J. del Valle’s Prelude Capital (previously Springbok Capital), and Ken Griffin’s Citadel Investment Group.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Annovis Bio, Inc. (NYSE:ANVS) but similarly valued. We will take a look at Spark Networks SE (NYSE:LOV), Select Bancorp, Inc. (NASDAQ:SLCT), Five Star Senior Living Inc. (NASDAQ:FVE), American Resources Corporation (NASDAQ:AREC), The Bank of Princeton (NASDAQ:BPRN), Trecora Resources (NYSE:TREC), and Second Sight Medical Products Inc (NASDAQ:EYES). This group of stocks’ market values are similar to ANVS’s market value.

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As you can see these stocks had an average of 5.1 hedge funds with bullish positions and the average amount invested in these stocks was $20 million. That figure was $10 million in ANVS’s case. Five Star Senior Living Inc. (NASDAQ:FVE) is the most popular stock in this table. On the other hand The Bank of Princeton (NASDAQ:BPRN) is the least popular one with only 2 bullish hedge fund positions. Annovis Bio, Inc. (NYSE:ANVS) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for ANVS is 62.2. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 19.3% in 2021 through June 25th and still beat the market by 4.8 percentage points. Hedge funds were also right about betting on ANVS as the stock returned 192.5% since the end of Q1 (through 6/25) and outperformed the market. Hedge funds were rewarded for their relative bullishness.

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Disclosure: None. This article was originally published at Insider Monkey.