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

Shares of Annovis Bio, Inc. (NYSE:ANVS) have been assigned a consensus rating of “Buy” from the five analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $18.00.

ANVS has been the topic of a number of research analyst reports. Canaccord Genuity Group lowered their target price on shares of Annovis Bio from $26.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, May 15th. HC Wainwright reduced their price target on shares of Annovis Bio from $30.00 to $12.00 and set a “buy” rating for the company in a report on Monday, June 9th.

Annovis Bio Trading Up 7.1%

NYSE:ANVS opened at $2.71 on Friday. Annovis Bio has a 1 year low of $1.11 and a 1 year high of $14.80. The firm’s fifty day simple moving average is $2.30 and its 200 day simple moving average is $2.65. The firm has a market capitalization of $52.82 million, a PE ratio of -1.25 and a beta of 1.57.

Annovis Bio (NYSE:ANVS) last posted its earnings results on Tuesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.15. As a group, analysts anticipate that Annovis Bio will post -2.19 EPS for the current fiscal year.

Institutional Trading of Annovis Bio

Hedge funds have recently bought and sold shares of the stock. Greenwich Wealth Management LLC lifted its holdings in shares of Annovis Bio by 93.9% during the 4th quarter. Greenwich Wealth Management LLC now owns 31,951 shares of the company’s stock worth $161,000 after acquiring an additional 15,476 shares during the period. Lokken Investment Group LLC lifted its holdings in shares of Annovis Bio by 49.0% during the 4th quarter. Lokken Investment Group LLC now owns 18,235 shares of the company’s stock worth $92,000 after acquiring an additional 6,000 shares during the period. XTX Topco Ltd bought a new position in shares of Annovis Bio during the 4th quarter worth about $59,000. Northern Trust Corp lifted its holdings in shares of Annovis Bio by 49.4% during the 4th quarter. Northern Trust Corp now owns 32,780 shares of the company’s stock worth $165,000 after acquiring an additional 10,846 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of Annovis Bio by 99.7% during the 4th 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 during the period. 15.83% of the stock is owned by institutional investors.

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.