Annovis Bio (NYSE:ANVS) Price Target Cut to $12.00 by Analysts at HC Wainwright

Annovis Bio (NYSE:ANVS) had its target price decreased by HC Wainwright from $30.00 to $12.00 in a report issued on Monday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

ANVS has been the topic of several other research reports. D. Boral Capital restated a “hold” rating on shares of Annovis Bio in a research report on Monday, February 10th. Canaccord Genuity Group dropped their price target on Annovis Bio from $26.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, May 15th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Annovis Bio has a consensus rating of “Buy” and a consensus price target of $30.25.

Annovis Bio Stock Performance

NYSE:ANVS opened at $3.07 on Monday. Annovis Bio has a 52 week low of $1.11 and a 52 week high of $17.88. The firm’s fifty day moving average is $1.77 and its 200-day moving average is $3.11. The firm has a market cap of $59.76 million, a P/E ratio of -0.69 and a beta of 1.62.

Annovis Bio (NYSE:ANVS) last released its earnings results on Tuesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.15. As a group, sell-side analysts anticipate that Annovis Bio will post -2.19 earnings per share for the current year.

Institutional Trading of Annovis Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lokken Investment Group LLC raised its holdings in Annovis Bio by 60.3% during the first quarter. Lokken Investment Group LLC now owns 29,235 shares of the company’s stock worth $44,000 after buying an additional 11,000 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Annovis Bio during the fourth quarter worth about $55,000. Warberg Asset Management LLC bought a new stake in shares of Annovis Bio during the first quarter worth about $58,000. XTX Topco Ltd acquired a new stake in shares of Annovis Bio in the 4th quarter worth about $59,000. Finally, Atria Wealth Solutions Inc. bought a new position in Annovis Bio in the 4th quarter valued at about $65,000. 15.83% of the stock is owned by 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.