HC Wainwright Reaffirms Buy Rating for Annovis Bio (NYSE:ANVS)

HC Wainwright reissued their buy rating on shares of Annovis Bio (NYSE:ANVS) in a research report report published on Monday morning,Benzinga reports. HC Wainwright currently has a $30.00 price target on the stock.

ANVS has been the subject of a number of other reports. EF Hutton Acquisition Co. I upgraded Annovis Bio to a “strong-buy” rating in a research note on Tuesday, August 13th. Maxim Group raised Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $32.17.

Annovis Bio Price Performance

Shares of Annovis Bio stock opened at $7.58 on Monday. The company has a market capitalization of $98.92 million, a PE ratio of -1.70 and a beta of 1.70. Annovis Bio has a 1-year low of $4.53 and a 1-year high of $22.49. The business has a 50-day moving average of $8.51 and a 200-day moving average of $8.35.

Annovis Bio (NYSE:ANVS) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.33). On average, equities analysts expect that Annovis Bio will post -2.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Annovis Bio

Institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in shares of Annovis Bio during the 3rd quarter valued at $371,000. Vanguard Group Inc. lifted its position in shares of Annovis Bio by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock valued at $4,260,000 after acquiring an additional 20,588 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Annovis Bio during the 2nd quarter valued at $115,000. Cetera Advisors LLC acquired a new stake in Annovis Bio during the 1st quarter valued at $122,000. Finally, Greenwich Wealth Management LLC raised its stake in Annovis Bio by 19.9% during the 2nd quarter. Greenwich Wealth Management LLC now owns 15,075 shares of the company’s stock valued at $87,000 after purchasing an additional 2,500 shares during the period. 15.83% of the stock is currently owned by institutional investors and hedge funds.

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.