Annovis Bio, Inc. (NYSE:ANVS) Receives Average Rating of “Buy” from Brokerages

Annovis Bio, Inc. (NYSE:ANVS) has earned a consensus recommendation of “Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $37.00.

A number of brokerages have recently weighed in on ANVS. D. Boral Capital reissued a “hold” rating on shares of Annovis Bio in a research report on Monday, February 10th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Annovis Bio in a research note on Monday, November 11th.

Annovis Bio Price Performance

Annovis Bio stock opened at $1.82 on Friday. The firm has a market capitalization of $25.91 million, a price-to-earnings ratio of -0.41 and a beta of 1.63. The company’s 50 day simple moving average is $4.00 and its 200 day simple moving average is $6.50. Annovis Bio has a fifty-two week low of $1.67 and a fifty-two week high of $20.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Greenwich Wealth Management LLC raised its holdings in shares of Annovis Bio by 9.3% during the third quarter. Greenwich Wealth Management LLC now owns 16,475 shares of the company’s stock worth $133,000 after acquiring an additional 1,400 shares during the period. Quest Partners LLC bought a new position in Annovis Bio during the 3rd quarter worth about $371,000. State Street Corp raised its stake in shares of Annovis Bio by 23.7% in the 3rd quarter. State Street Corp now owns 36,035 shares of the company’s stock valued at $290,000 after purchasing an additional 6,900 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Annovis Bio by 30.0% in the third quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock valued at $799,000 after purchasing an additional 22,881 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Annovis Bio during the third quarter worth about $76,000. Institutional investors 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.