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

Annovis Bio, Inc. (NYSE:ANVS) has been assigned a consensus recommendation of “Hold” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $13.50.

Several equities analysts recently issued reports on ANVS shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Annovis Bio in a research report on Tuesday, September 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Annovis Bio in a research report on Monday, December 29th.

Insider Activity

In other Annovis Bio news, Director Michael B. Hoffman bought 45,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was purchased at an average cost of $4.31 per share, with a total value of $193,950.00. Following the completion of the acquisition, the director owned 2,574,739 shares in the company, valued at $11,097,125.09. This trade represents a 1.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Maria-Luisa Maccecchini bought 97,561 shares of the business’s stock in a transaction dated Tuesday, October 28th. The shares were bought at an average cost of $2.05 per share, for a total transaction of $200,000.05. Following the transaction, the chief executive officer owned 1,212,020 shares in the company, valued at approximately $2,484,641. The trade was a 8.75% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 1,192,371 shares of company stock valued at $2,655,537 in the last quarter. 20.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Annovis Bio

A number of hedge funds have recently made changes to their positions in the stock. CWA Asset Management Group LLC raised its holdings in Annovis Bio by 30.8% during the fourth quarter. CWA Asset Management Group LLC now owns 17,001 shares of the company’s stock worth $59,000 after purchasing an additional 4,000 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Annovis Bio by 69.3% during the second quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock worth $32,000 after acquiring an additional 6,100 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Annovis Bio in the second quarter valued at $52,000. Dakota Wealth Management purchased a new position in shares of Annovis Bio during the 4th quarter worth about $91,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Annovis Bio by 20.1% in the 2nd quarter. Geode Capital Management LLC now owns 183,287 shares of the company’s stock valued at $398,000 after purchasing an additional 30,674 shares during the last quarter. 15.83% of the stock is currently owned by hedge funds and other institutional investors.

Annovis Bio Stock Down 3.3%

NYSE ANVS opened at $2.80 on Wednesday. The firm has a market capitalization of $74.07 million, a PE ratio of -1.94 and a beta of 1.46. The stock’s 50 day moving average is $3.75 and its 200 day moving average is $2.85. Annovis Bio has a twelve month low of $1.11 and a twelve month high of $5.50.

Annovis Bio (NYSE:ANVS) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.01). On average, research analysts anticipate that Annovis Bio will post -2.19 earnings per share for the current year.

Annovis Bio Company Profile

Annovis Bio, Inc (NYSE: ANVS) is a clinical-stage biotechnology company headquartered in Tampa, Florida, focused on the discovery and development of small molecule therapeutics for neurodegenerative and neuroinflammatory disorders. Leveraging a proprietary platform that targets protein trafficking and translational dysregulation, Annovis aims to restore cellular homeostasis by modulating the production and clearance of disease-related proteins. The company’s pipeline is designed to address critical pathways implicated in Alzheimer’s disease, Parkinson’s disease, multiple sclerosis and other central nervous system conditions.

The company’s lead asset, ANVS401 (Posiphen®), is an oral small molecule that has been evaluated in Phase 1 and Phase 2 clinical trials to reduce levels of amyloid precursor protein and its toxic fragments in Alzheimer’s patients.