Annovis Bio, Inc. (NYSE:ANVS) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Annovis Bio, Inc. (NYSE:ANVS) have received an average rating of “Buy” from the seven analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $32.17.

ANVS has been the subject of a number of recent research reports. Maxim Group upgraded shares of Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Friday, October 25th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Annovis Bio in a research note on Monday, November 11th.

Institutional Trading of Annovis Bio

Several hedge funds and other institutional investors have recently made changes to their positions in ANVS. Vanguard Group Inc. lifted its holdings in shares of Annovis Bio by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock valued at $4,260,000 after buying an additional 20,588 shares during the period. Cetera Advisors LLC acquired a new position in shares of Annovis Bio during the 1st quarter worth $122,000. Greenwich Wealth Management LLC grew its stake in shares of Annovis Bio by 19.9% during the 2nd quarter. Greenwich Wealth Management LLC now owns 15,075 shares of the company’s stock worth $87,000 after purchasing an additional 2,500 shares during the period. XTX Topco Ltd purchased a new position in shares of Annovis Bio in the 2nd quarter valued at about $115,000. Finally, Quest Partners LLC acquired a new stake in shares of Annovis Bio in the third quarter valued at about $371,000. Hedge funds and other institutional investors own 15.83% of the company’s stock.

Annovis Bio Trading Down 5.4 %

Shares of Annovis Bio stock opened at $5.03 on Tuesday. The company has a fifty day simple moving average of $7.60 and a 200-day simple moving average of $8.20. The stock has a market cap of $69.33 million, a price-to-earnings ratio of -1.13 and a beta of 1.59. Annovis Bio has a 12-month low of $4.53 and a 12-month high of $22.49.

Annovis Bio (NYSE:ANVS) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.33). On average, 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.