Annovis Bio, Inc. (NYSE:ANVS) Given Consensus Rating of “Buy” by Brokerages

Annovis Bio, Inc. (NYSE:ANVS) has been given a consensus rating of “Buy” by the seven analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $32.17.

ANVS has been the subject of several research analyst reports. Maxim Group upgraded shares of Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Friday, October 25th. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Annovis Bio in a report on Monday, November 11th.

Annovis Bio Stock Performance

ANVS opened at $4.46 on Tuesday. Annovis Bio has a 52-week low of $4.21 and a 52-week high of $22.49. The firm has a market cap of $61.53 million, a P/E ratio of -1.00 and a beta of 1.59. The business’s fifty day moving average is $7.32 and its 200-day moving average is $8.15.

Annovis Bio (NYSE:ANVS) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.33). On average, research analysts predict that Annovis Bio will post -2.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Annovis Bio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Greenwich Wealth Management LLC boosted its stake in shares of Annovis Bio by 9.3% during the third quarter. Greenwich Wealth Management LLC now owns 16,475 shares of the company’s stock valued at $133,000 after purchasing an additional 1,400 shares in the last quarter. State Street Corp raised its holdings in Annovis Bio by 23.7% in the 3rd quarter. State Street Corp now owns 36,035 shares of the company’s stock valued at $290,000 after buying an additional 6,900 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Annovis Bio during the 3rd quarter worth approximately $76,000. Cetera Advisors LLC acquired a new position in Annovis Bio in the 1st quarter valued at approximately $122,000. Finally, XTX Topco Ltd bought a new position in shares of Annovis Bio during the second quarter valued at $115,000. Institutional investors own 15.83% of the company’s stock.

About Annovis Bio

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.