Annovis Bio’s (ANVS) Buy Rating Reiterated at HC Wainwright

Annovis Bio (NYSE:ANVS)‘s stock had its “buy” rating restated by HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They presently have a $30.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 270.83% from the company’s current price.

A number of other equities research analysts also recently weighed in on ANVS. EF Hutton Acquisition Co. I raised Annovis Bio to a “strong-buy” rating in a report on Tuesday, August 13th. Rodman & Renshaw reiterated a “buy” rating and set a $67.00 price objective on shares of Annovis Bio in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $33.60.

Annovis Bio Trading Down 0.1 %

Shares of ANVS stock opened at $8.09 on Tuesday. The firm has a market capitalization of $90.37 million, a P/E ratio of -1.41 and a beta of 1.73. Annovis Bio has a 1 year low of $4.53 and a 1 year high of $22.49. The firm’s fifty day simple moving average is $8.72 and its 200 day simple moving average is $8.88.

Annovis Bio (NYSE:ANVS) last posted its quarterly earnings results on Thursday, August 15th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.19. Equities research analysts anticipate that Annovis Bio will post -2.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Annovis Bio

Several institutional investors have recently bought and sold shares of the business. Cetera Advisors LLC acquired a new position in Annovis Bio during the 1st quarter worth about $122,000. Greenwich Wealth Management LLC raised its position in Annovis Bio by 19.9% in 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 last quarter. XTX Topco Ltd bought a new position in Annovis Bio in the 2nd quarter worth approximately $115,000. Redmond Asset Management LLC boosted its position in Annovis Bio by 6.1% in the 1st quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock valued at $430,000 after buying an additional 2,077 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Annovis Bio by 6.1% during the first quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock worth $4,260,000 after acquiring an additional 20,588 shares during the last quarter. 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.