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

Shares of Annovis Bio, Inc. (NYSE:ANVS) have been assigned a consensus rating of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $31.40.

ANVS has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Annovis Bio in a research 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 report on Friday, October 25th.

Hedge Funds Weigh In On Annovis Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANVS. JPMorgan Chase & Co. acquired a new position in shares of Annovis Bio during the 3rd quarter worth $31,000. Wilmington Savings Fund Society FSB bought a new position in Annovis Bio during the third quarter valued at about $76,000. Greenwich Wealth Management LLC lifted its position in shares of 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 buying an additional 2,500 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Annovis Bio during the 2nd quarter worth about $115,000. Finally, State Street Corp increased its holdings 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 acquiring an additional 6,900 shares during the last quarter. Institutional investors own 15.83% of the company’s stock.

Annovis Bio Stock Performance

Annovis Bio stock opened at $5.02 on Friday. The firm has a market cap of $69.26 million, a price-to-earnings ratio of -1.13 and a beta of 1.64. Annovis Bio has a 1 year low of $4.21 and a 1 year high of $20.00. The firm’s 50 day moving average price is $5.74 and its two-hundred day moving average price is $7.99.

Annovis Bio (NYSE:ANVS) last announced its earnings results on Friday, November 8th. The company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.33). As a group, equities analysts predict that Annovis Bio will post -2.19 EPS for the current fiscal year.

Annovis Bio Company Profile

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.