Annovis Bio, Inc. (NYSE:ANVS) Receives Average Rating of “Buy” from Brokerages

Annovis Bio, Inc. (NYSE:ANVS) has received an average rating of “Buy” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $31.40.

Several equities analysts have weighed in on the stock. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Annovis Bio in a report on Monday, November 11th. Maxim Group upgraded Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Friday, October 25th.

Hedge Funds Weigh In On Annovis Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of ANVS. JPMorgan Chase & Co. bought a new stake in shares of Annovis Bio during the 3rd quarter worth about $31,000. Wilmington Savings Fund Society FSB bought a new stake in Annovis Bio during the third quarter worth approximately $76,000. Greenwich Wealth Management LLC lifted its position in Annovis Bio by 19.9% in the second quarter. Greenwich Wealth Management LLC now owns 15,075 shares of the company’s stock worth $87,000 after purchasing an additional 2,500 shares during the period. XTX Topco Ltd bought a new position in Annovis Bio during the 2nd quarter valued at $115,000. Finally, State Street Corp increased its position in shares of Annovis Bio by 23.7% during the 3rd quarter. State Street Corp now owns 36,035 shares of the company’s stock valued at $290,000 after purchasing an additional 6,900 shares during the period. 15.83% of the stock is currently owned by institutional investors and hedge funds.

Annovis Bio Trading Up 0.2 %

NYSE:ANVS opened at $5.02 on Friday. The stock has a fifty day moving average price of $5.74 and a 200 day moving average price of $7.99. Annovis Bio has a 12-month low of $4.21 and a 12-month high of $20.00. The firm has a market cap of $69.26 million, a PE ratio of -1.13 and a beta of 1.64.

Annovis Bio (NYSE:ANVS) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.33). Equities analysts forecast that Annovis Bio will post -2.19 EPS for the current year.

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.