Annovis Bio (NYSE:ANVS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Annovis Bio (NYSE:ANVS) from a strong sell rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other analysts have also recently issued reports on the company. Roth Capital cut their target price on Annovis Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday. Zacks Research raised shares of Annovis Bio to a “hold” rating in a research report on Thursday, July 9th. Weiss Ratings raised Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Finally, Canaccord Genuity Group restated a “buy” rating on shares of Annovis Bio in a research note on Tuesday, August 18th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $11.33.

Annovis Bio Stock Performance

ANVS stock opened at $1.74 on Friday. The firm’s fifty day moving average is $1.80 and its 200 day moving average is $2.04. Annovis Bio has a 52 week low of $1.54 and a 52 week high of $5.50. The firm has a market cap of $74.14 million, a P/E ratio of -0.97 and a beta of 1.25.

Annovis Bio (NYSE:ANVS) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.05. As a group, analysts forecast that Annovis Bio will post -1.58 EPS for the current year.

Institutional Trading of Annovis Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new stake in Annovis Bio in the second quarter worth about $29,000. Quadcap Wealth Management LLC bought a new position in shares of Annovis Bio in the second quarter worth about $30,000. JPMorgan Chase & Co. boosted its stake in shares of Annovis Bio by 69.3% in the second quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock worth $32,000 after acquiring an additional 6,100 shares during the period. RKL Wealth Management LLC purchased a new stake in shares of Annovis Bio during the fourth quarter worth about $35,000. Finally, RFG Advisory LLC purchased a new stake in shares of Annovis Bio during the fourth quarter worth about $43,000. 15.83% of the stock is owned by hedge funds and other institutional investors.

About Annovis Bio

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.