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

Shares of Annovis Bio, Inc. (NYSE:ANVS) have been given an average recommendation of “Hold” by the six research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $17.3333.

ANVS has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Annovis Bio in a research note on Wednesday, October 8th. Canaccord Genuity Group restated a “buy” rating and set a $17.00 price objective on shares of Annovis Bio in a research report on Tuesday, September 30th. HC Wainwright reduced 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. Finally, Zacks Research upgraded Annovis Bio to a “hold” rating in a report on Friday, August 8th.

Institutional Investors Weigh In On Annovis Bio

Hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP bought a new position in Annovis Bio in the second quarter worth approximately $197,000. Warberg Asset Management LLC bought a new position in Annovis Bio in the first quarter worth approximately $58,000. Geode Capital Management LLC grew its stake in Annovis Bio by 20.1% in the second quarter. Geode Capital Management LLC now owns 183,287 shares of the company’s stock worth $398,000 after purchasing an additional 30,674 shares in the last quarter. Jane Street Group LLC bought a new position in Annovis Bio in the second quarter worth approximately $52,000. Finally, Lokken Investment Group LLC grew its stake 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 purchasing an additional 11,000 shares in the last quarter. 15.83% of the stock is currently owned by hedge funds and other institutional investors.

Annovis Bio Stock Performance

NYSE:ANVS opened at $1.99 on Monday. The firm has a market capitalization of $38.69 million, a PE ratio of -0.97 and a beta of 1.63. The stock has a 50-day simple moving average of $2.29 and a two-hundred day simple moving average of $2.22. Annovis Bio has a 52-week low of $1.11 and a 52-week high of $10.54.

Annovis Bio (NYSE:ANVS) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.04. Equities analysts forecast that Annovis Bio will post -2.19 earnings per share for the current fiscal year.

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.