Shares of Annovis Bio, Inc. (NYSE:ANVS – Get Free Report) 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.
Read Our Latest Research Report on ANVS
Annovis Bio Stock Performance
Annovis Bio (NYSE:ANVS – Get Free Report) 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.
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