Annovis Bio (NYSE:ANVS) Earns Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Annovis Bio (NYSE:ANVS) in a report released on Wednesday morning, Benzinga reports. They currently have a $30.00 target price on the stock.

Several other brokerages have also recently issued reports on ANVS. EF Hutton Acquisition Co. I raised shares of Annovis Bio to a “strong-buy” rating in a report on Tuesday, August 13th. 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. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $33.60.

Annovis Bio Price Performance

Shares of Annovis Bio stock opened at $9.21 on Wednesday. The stock has a market capitalization of $102.88 million, a P/E ratio of -1.60 and a beta of 1.72. Annovis Bio has a one year low of $4.53 and a one year high of $22.49. The business’s 50 day simple moving average is $8.42 and its two-hundred day simple moving average is $8.62.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings data on Thursday, August 15th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.19. Sell-side analysts expect that Annovis Bio will post -2.53 earnings per share for the current fiscal year.

Institutional Trading of Annovis Bio

A number of large investors have recently modified their holdings of the company. Redmond Asset Management LLC increased its position in Annovis Bio by 6.1% during the 1st quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock valued at $430,000 after purchasing an additional 2,077 shares during the period. Vanguard Group Inc. grew its stake in Annovis Bio by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock worth $4,260,000 after buying an additional 20,588 shares during the last quarter. Cetera Advisors LLC purchased a new stake in Annovis Bio in the first quarter valued at about $122,000. Greenwich Wealth Management LLC grew its stake 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 worth $87,000 after acquiring an additional 2,500 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Annovis Bio in the 2nd quarter worth approximately $115,000. Hedge funds and other 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.