State Street Corp Grows Stock Holdings in Annovis Bio, Inc. (NYSE:ANVS)

State Street Corp raised its stake in shares of Annovis Bio, Inc. (NYSE:ANVS) by 23.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,035 shares of the company’s stock after acquiring an additional 6,900 shares during the period. State Street Corp’s holdings in Annovis Bio were worth $290,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Greenwich Wealth Management LLC increased its stake in Annovis Bio by 19.9% in the 2nd 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 period. XTX Topco Ltd acquired a new position in shares of Annovis Bio during the second quarter worth about $115,000. Finally, Quest Partners LLC purchased a new position in Annovis Bio during the third quarter worth about $371,000. 15.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Annovis Bio in a report on Monday, November 11th. Maxim Group upgraded Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Annovis Bio presently has an average rating of “Buy” and an average price target of $31.40.

Annovis Bio Trading Up 5.5 %

ANVS stock opened at $5.39 on Friday. The firm has a 50 day moving average of $6.53 and a 200-day moving average of $8.04. The company has a market cap of $74.37 million, a price-to-earnings ratio of -1.21 and a beta of 1.59. Annovis Bio, Inc. has a 12-month low of $4.21 and a 12-month high of $20.00.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings data on Friday, November 8th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.33). Sell-side analysts forecast that Annovis Bio, Inc. will post -2.19 earnings per share for the current fiscal year.

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.