Annovis Bio (NYSE:ANVS) Stock Rating Upgraded by Maxim Group

Annovis Bio (NYSE:ANVS) was upgraded by Maxim Group from a “hold” rating to a “buy” rating in a research note issued on Friday, Marketbeat reports. The firm presently has a $25.00 price target on the stock. Maxim Group’s target price indicates a potential upside of 153.29% from the stock’s previous close.

A number of other research analysts also recently commented on ANVS. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Annovis Bio in a report on Wednesday, October 16th. Rodman & Renshaw restated a “buy” rating and set a $67.00 price objective on shares of Annovis Bio in a research note on Tuesday, July 2nd. Finally, EF Hutton Acquisition Co. I upgraded shares of Annovis Bio to a “strong-buy” rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $32.17.

Annovis Bio Price Performance

ANVS opened at $9.87 on Friday. Annovis Bio has a 12-month low of $4.53 and a 12-month high of $22.49. The stock has a market capitalization of $110.26 million, a PE ratio of -1.72 and a beta of 1.72. The firm’s fifty day moving average price is $8.55 and its 200 day moving average price is $8.56.

Annovis Bio (NYSE:ANVS) last issued 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, equities research analysts forecast that Annovis Bio will post -2.53 earnings per share for the current fiscal year.

Institutional Trading of Annovis Bio

Several hedge funds have recently made changes to their positions in the stock. Cetera Advisors LLC acquired a new stake in Annovis Bio in the first quarter worth $122,000. Greenwich Wealth Management LLC grew 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 worth $87,000 after acquiring an additional 2,500 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Annovis Bio during the second quarter worth about $115,000. Redmond Asset Management LLC increased its holdings in shares of Annovis Bio by 6.1% in the 1st quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock worth $430,000 after acquiring an additional 2,077 shares during the period. Finally, Vanguard Group Inc. lifted its position in Annovis Bio by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock valued at $4,260,000 after purchasing 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.