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

Annovis Bio, Inc. (NYSE:ANVS) has been assigned an average rating of “Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $34.75.

A number of equities research analysts recently weighed in on the company. D. Boral Capital reaffirmed a “hold” rating on shares of Annovis Bio in a research report on Monday, February 10th. Canaccord Genuity Group dropped their price objective on Annovis Bio from $26.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, May 15th.

Annovis Bio Stock Performance

Shares of Annovis Bio stock opened at $2.12 on Friday. The firm has a market cap of $30.18 million, a P/E ratio of -0.48 and a beta of 1.46. Annovis Bio has a 12 month low of $1.11 and a 12 month high of $17.88. The stock’s fifty day moving average price is $1.56 and its 200-day moving average price is $3.62.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.15. Analysts forecast that Annovis Bio will post -2.19 earnings per share for the current year.

Institutional Investors Weigh In On Annovis Bio

Several institutional investors have recently added to or reduced their stakes in the business. Warberg Asset Management LLC acquired a new stake in Annovis Bio in the first quarter worth about $58,000. Lokken Investment Group LLC boosted its holdings in Annovis Bio by 60.3% in 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 in the last quarter. Two Sigma Investments LP acquired a new stake in Annovis Bio in the fourth quarter worth about $55,000. Cubist Systematic Strategies LLC acquired a new stake in Annovis Bio in the fourth quarter worth about $258,000. Finally, Jane Street Group LLC boosted its holdings in Annovis Bio by 99.7% in the fourth quarter. Jane Street Group LLC now owns 68,107 shares of the company’s stock worth $343,000 after acquiring an additional 34,001 shares in the last quarter. Institutional investors and hedge funds 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.