Annovis Bio (NYSE:ANVS) Given New $30.00 Price Target at HC Wainwright

Annovis Bio (NYSE:ANVSGet Free Report) had its target price boosted by equities research analysts at HC Wainwright from $23.00 to $30.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 147.12% from the stock’s previous close.

Several other research analysts have also recently weighed in on ANVS. Canaccord Genuity Group dropped their price objective 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, April 30th. Rodman & Renshaw restated a “buy” rating and issued a $67.00 price objective on shares of Annovis Bio in a research report on Tuesday, July 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.60.

Check Out Our Latest Report on ANVS

Annovis Bio Stock Down 16.7 %

NYSE:ANVS opened at $12.14 on Thursday. The firm has a market capitalization of $135.60 million, a PE ratio of -2.11 and a beta of 1.74. Annovis Bio has a 12-month low of $4.53 and a 12-month high of $22.49. The firm has a 50-day moving average price of $7.11 and a 200 day moving average price of $9.89.

Annovis Bio (NYSE:ANVSGet Free Report) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.15. On average, research analysts expect that Annovis Bio will post -2.46 EPS for the current year.

Hedge Funds Weigh In On Annovis Bio

Several institutional investors and hedge funds have recently made changes to their positions in the company. Private Trust Co. NA bought a new stake in Annovis Bio in the 4th quarter valued at $56,000. Cetera Advisors LLC bought a new stake in Annovis Bio in the 1st quarter valued at $122,000. Greenwich Wealth Management LLC bought a new stake in Annovis Bio in the 4th quarter valued at $192,000. Wealthspire Advisors LLC lifted its position in Annovis Bio by 9.9% during the 4th quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock worth $206,000 after buying an additional 990 shares in the last quarter. Finally, Redmond Asset Management LLC lifted its position in Annovis Bio by 6.1% during the 1st quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock worth $430,000 after buying an additional 2,077 shares in the last quarter. Institutional investors and hedge funds own 15.83% of the company’s stock.

About Annovis Bio

(Get Free Report)

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.

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