HC Wainwright Reiterates Buy Rating for Annovis Bio (NYSE:ANVS)

Annovis Bio (NYSE:ANVS)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They presently have a $30.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 391.00% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Canaccord Genuity Group cut their target price on shares of Annovis Bio from $36.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday. Brookline Capital Management lowered shares of Annovis Bio from a “buy” rating to a “hold” rating and set a $9.00 target price on the stock. in a research report on Wednesday, February 28th.

Annovis Bio Price Performance

Shares of Annovis Bio stock opened at $6.11 on Tuesday. Annovis Bio has a fifty-two week low of $5.23 and a fifty-two week high of $22.49. The firm has a market capitalization of $67.28 million, a P/E ratio of -0.98 and a beta of 1.59. The company’s 50 day moving average price is $10.49 and its two-hundred day moving average price is $10.28.

Annovis Bio (NYSE:ANVS) last issued its earnings results on Friday, March 29th. The company reported ($1.09) earnings per share for the quarter. On average, analysts expect that Annovis Bio will post -3.35 earnings per share for the current year.

Hedge Funds Weigh In On Annovis Bio

A number of hedge funds have recently modified their holdings of ANVS. Adage Capital Partners GP L.L.C. acquired a new position in shares of Annovis Bio during the third quarter worth $2,847,000. Greenwich Wealth Management LLC acquired a new position in shares of Annovis Bio during the fourth quarter worth $192,000. Private Trust Co. NA acquired a new position in shares of Annovis Bio during the fourth quarter worth $56,000. Finally, Wealthspire Advisors LLC raised its stake in Annovis Bio by 9.9% during the fourth quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock worth $206,000 after buying an additional 990 shares during the last quarter. Institutional investors and hedge funds own 15.83% of the company’s stock.

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 is in Phase 3 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.