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

Annovis Bio, Inc. (NYSE:ANVS) has been assigned a consensus recommendation of “Buy” from the six research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $37.00.

Separately, D. Boral Capital restated a “hold” rating on shares of Annovis Bio in a research report on Monday, February 10th.

Annovis Bio Stock Down 1.6 %

Shares of NYSE:ANVS opened at $1.24 on Monday. Annovis Bio has a 12-month low of $1.11 and a 12-month high of $20.00. The company’s 50 day moving average price is $1.72 and its two-hundred day moving average price is $4.70. The firm has a market cap of $17.65 million, a PE ratio of -0.28 and a beta of 1.51.

Annovis Bio (NYSE:ANVS) last announced its quarterly earnings data on Friday, March 21st. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). During the same period in the previous year, the business posted ($0.43) EPS. On average, research analysts expect that Annovis Bio will post -2.19 EPS for the current year.

Hedge Funds Weigh In On Annovis Bio

Several hedge funds have recently made changes to their positions in ANVS. Geode Capital Management LLC lifted its stake in Annovis Bio by 30.0% during the third quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock worth $799,000 after purchasing an additional 22,881 shares during the last quarter. Merit Financial Group LLC lifted its position in Annovis Bio by 269.0% in the 4th quarter. Merit Financial Group LLC now owns 98,516 shares of the company’s stock worth $496,000 after buying an additional 71,816 shares during the last quarter. Jane Street Group LLC lifted its position in Annovis Bio by 99.7% in the 4th quarter. Jane Street Group LLC now owns 68,107 shares of the company’s stock worth $343,000 after buying an additional 34,001 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Annovis Bio in the fourth quarter worth approximately $258,000. Finally, State Street Corp grew its position in Annovis Bio by 23.7% during the third 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. 15.83% of the stock is currently owned by hedge funds and other institutional investors.

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.