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

Shares of Annovis Bio, Inc. (NYSE:ANVS) have been assigned an average rating of “Buy” from the six ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $33.60.

Several research analysts have recently weighed in on the company. Rodman & Renshaw reaffirmed a “buy” rating and set a $67.00 price objective on shares of Annovis Bio in a research report on Tuesday, July 2nd. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Annovis Bio in a research note on Tuesday. Finally, EF Hutton Acquisition Co. I raised shares of Annovis Bio to a “strong-buy” rating in a report on Tuesday, August 13th.

Annovis Bio Stock Performance

Shares of NYSE:ANVS opened at $8.36 on Thursday. The company has a 50 day moving average price of $8.62 and a two-hundred day moving average price of $8.87. The company has a market capitalization of $93.39 million, a PE ratio of -1.45 and a beta of 1.73. Annovis Bio has a 52 week low of $4.53 and a 52 week high of $22.49.

Annovis Bio (NYSE:ANVS) last posted its earnings results on Thursday, August 15th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.19. On average, sell-side analysts forecast that Annovis Bio will post -2.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ANVS. Greenwich Wealth Management LLC boosted its position in shares of Annovis Bio by 19.9% during the second quarter. Greenwich Wealth Management LLC now owns 15,075 shares of the company’s stock valued at $87,000 after buying an additional 2,500 shares during the last quarter. XTX Topco Ltd bought a new stake in Annovis Bio in the 2nd quarter valued at about $115,000. Cetera Advisors LLC bought a new position in Annovis Bio in the 1st quarter worth approximately $122,000. Redmond Asset Management LLC lifted its holdings in Annovis Bio by 6.1% during the 1st quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock worth $430,000 after purchasing an additional 2,077 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Annovis Bio by 6.1% during the first quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock valued at $4,260,000 after acquiring an additional 20,588 shares in 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 has completed three Phase 1/2 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.