Brokerages Set Annovis Bio, Inc. (NYSE:ANVS) Target Price at $13.50

Shares of Annovis Bio, Inc. (NYSE:ANVS) have received a consensus rating of “Hold” from the five analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $13.50.

A number of equities analysts have issued reports on ANVS shares. HC Wainwright cut their price target on Annovis Bio from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, September 3rd. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 target price on shares of Annovis Bio in a research report on Tuesday, September 30th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Annovis Bio in a research note on Monday, December 22nd.

Insider Transactions at Annovis Bio

In related news, CEO Maria-Luisa Maccecchini acquired 97,561 shares of the business’s stock in a transaction dated Tuesday, October 28th. The shares were bought at an average price of $2.05 per share, with a total value of $200,000.05. Following the transaction, the chief executive officer directly owned 1,212,020 shares of the company’s stock, valued at $2,484,641. This trade represents a 8.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael B. Hoffman bought 975,610 shares of Annovis Bio stock in a transaction dated Tuesday, October 28th. The stock was purchased at an average price of $2.05 per share, with a total value of $2,000,000.50. Following the completion of the purchase, the director owned 2,455,539 shares in the company, valued at $5,033,854.95. This trade represents a 65.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 1,192,371 shares of company stock worth $2,655,537 in the last three months. Insiders own 20.80% of the company’s stock.

Hedge Funds Weigh In On Annovis Bio

A number of hedge funds have recently added to or reduced their stakes in ANVS. JPMorgan Chase & Co. increased its holdings in Annovis Bio by 69.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock worth $32,000 after purchasing an additional 6,100 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Annovis Bio during the second quarter valued at approximately $52,000. Marshall Wace LLP purchased a new position in shares of Annovis Bio during the second quarter valued at approximately $197,000. Geode Capital Management LLC grew its holdings in Annovis Bio by 20.1% during the second quarter. Geode Capital Management LLC now owns 183,287 shares of the company’s stock worth $398,000 after buying an additional 30,674 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Annovis Bio by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 738,003 shares of the company’s stock valued at $1,528,000 after buying an additional 41,239 shares during the last quarter. Institutional investors and hedge funds own 15.83% of the company’s stock.

Annovis Bio Trading Down 2.3%

Shares of Annovis Bio stock opened at $3.52 on Friday. The business has a 50-day moving average price of $3.31 and a two-hundred day moving average price of $2.75. Annovis Bio has a 1-year low of $1.11 and a 1-year high of $5.60. The company has a market cap of $93.25 million, a P/E ratio of -2.44 and a beta of 1.48.

Annovis Bio (NYSE:ANVS) last announced its earnings results on Wednesday, November 12th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.01). Equities research analysts forecast that Annovis Bio will post -2.19 EPS for the current fiscal 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.