Annovis Bio, Inc. (NYSE:ANVS) Given Average Recommendation of “Moderate Buy” by Analysts

Annovis Bio, Inc. (NYSE:ANVS) has earned a consensus rating of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $18.00.

A number of research firms have weighed in on ANVS. Zacks Research upgraded Annovis Bio to a “hold” rating in a research report on Friday, August 8th. HC Wainwright cut their target price on Annovis Bio from $30.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, June 9th. Finally, Canaccord Genuity Group cut their target price 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.

Institutional Trading of Annovis Bio

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in Annovis Bio by 20.1% in the 2nd quarter. Geode Capital Management LLC now owns 183,287 shares of the company’s stock worth $398,000 after acquiring an additional 30,674 shares during the last quarter. Marshall Wace LLP bought a new position in Annovis Bio in the 2nd quarter worth $197,000. Jane Street Group LLC boosted its holdings 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 period. Cubist Systematic Strategies LLC bought a new position in Annovis Bio in the 4th quarter worth $258,000. Finally, Warberg Asset Management LLC bought a new position in Annovis Bio in the 1st quarter worth $58,000. 15.83% of the stock is owned by institutional investors.

Annovis Bio Stock Performance

Shares of ANVS stock opened at $2.3820 on Friday. Annovis Bio has a 52-week low of $1.11 and a 52-week high of $10.54. The company has a market capitalization of $46.43 million, a PE ratio of -1.17 and a beta of 1.51. The business’s fifty day moving average is $2.62 and its 200 day moving average is $2.16.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.04. On average, sell-side analysts forecast that Annovis Bio will post -2.19 EPS for the current fiscal year.

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.