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

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

Several research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Annovis Bio to a “hold” rating in a research note on Friday, August 8th. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 price target on shares of Annovis Bio in a report on Tuesday, September 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Annovis Bio in a research report on Wednesday, October 8th. Finally, HC Wainwright dropped their price objective on Annovis Bio from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, September 3rd.

Annovis Bio Trading Down 5.2%

NYSE ANVS opened at $2.30 on Friday. Annovis Bio has a 12 month low of $1.11 and a 12 month high of $7.52. The stock has a 50 day moving average of $2.14 and a 200-day moving average of $2.32. The company has a market cap of $56.31 million, a PE ratio of -1.60 and a beta of 1.61.

Annovis Bio (NYSE:ANVS) last issued its earnings results on Wednesday, November 12th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.01). As a group, sell-side analysts predict that Annovis Bio will post -2.19 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Maria-Luisa Maccecchini acquired 97,561 shares of Annovis Bio stock in a transaction on Tuesday, October 28th. The stock was purchased at an average cost of $2.05 per share, with a total value of $200,000.05. Following the completion of the transaction, the chief executive officer directly owned 1,212,020 shares in the company, valued at $2,484,641. This trade represents a 8.75% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael B. Hoffman acquired 975,610 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was bought at an average price of $2.05 per share, for a total transaction of $2,000,000.50. Following the completion of the acquisition, the director owned 2,455,539 shares of the company’s stock, valued at approximately $5,033,854.95. The trade was a 65.92% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 20.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Annovis Bio

Several hedge funds and other institutional investors have recently modified their holdings of ANVS. JPMorgan Chase & Co. grew its stake in Annovis Bio by 69.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock valued at $32,000 after buying an additional 6,100 shares during the last quarter. Lokken Investment Group LLC lifted its position 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 acquiring an additional 11,000 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Annovis Bio during the second quarter worth approximately $52,000. Warberg Asset Management LLC acquired a new position in shares of Annovis Bio in the first quarter valued at approximately $58,000. Finally, Marshall Wace LLP acquired a new position in shares of Annovis Bio in the second quarter valued at approximately $197,000. Institutional investors own 15.83% of the company’s stock.

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.