Annovis Bio (NYSE:ANVS) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright restated their buy rating on shares of Annovis Bio (NYSE:ANVS) in a research note issued to investors on Tuesday morning, Benzinga reports. HC Wainwright currently has a $30.00 price objective on the stock.

ANVS has been the subject of a number of other research reports. Canaccord Genuity Group dropped their target price on shares of Annovis Bio from $36.00 to $26.00 and set a buy rating for the company in a research report on Tuesday. Brookline Capital Management lowered shares of Annovis Bio from a buy rating to a hold rating and set a $9.00 price objective for the company. in a research report on Wednesday, February 28th.

Annovis Bio Stock Performance

Shares of ANVS stock opened at $5.20 on Tuesday. The firm has a market capitalization of $57.25 million, a price-to-earnings ratio of -0.84 and a beta of 1.76. Annovis Bio has a one year low of $4.86 and a one year high of $22.49. The company has a 50 day moving average price of $10.31 and a 200 day moving average price of $10.22.

Annovis Bio (NYSE:ANVS) last released its quarterly earnings data on Friday, March 29th. The company reported ($1.09) EPS for the quarter. As a group, equities analysts forecast that Annovis Bio will post -2.93 EPS for the current fiscal year.

Institutional Trading of Annovis Bio

Several large investors have recently bought and sold shares of the company. Wealthspire Advisors LLC lifted its position in shares of Annovis Bio by 9.9% during the fourth quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock worth $206,000 after purchasing an additional 990 shares in the last quarter. Private Trust Co. NA purchased a new position in Annovis Bio in the 4th quarter valued at about $56,000. Greenwich Wealth Management LLC purchased a new position in Annovis Bio in the 4th quarter valued at about $192,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Annovis Bio during the third quarter valued at about $2,847,000. Institutional investors and hedge funds own 15.83% of the company’s stock.

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 is in Phase 3 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.