Annovis Bio, Inc. (NYSE:ANVS) Receives $32.17 Average PT from Brokerages

Shares of Annovis Bio, Inc. (NYSE:ANVS) have been given a consensus recommendation of “Buy” by the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One research 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 company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $32.17.

ANVS has been the topic of several recent analyst reports. Maxim Group raised Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Friday, October 25th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Annovis Bio in a research note on Wednesday, October 16th. Finally, EF Hutton Acquisition Co. I upgraded shares of Annovis Bio to a “strong-buy” rating in a research report on Tuesday, August 13th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. 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 valued at $4,260,000 after buying an additional 20,588 shares during the last quarter. Redmond Asset Management LLC raised its position in Annovis Bio by 6.1% in the first 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. XTX Topco Ltd acquired a new position in Annovis Bio in the second quarter worth about $115,000. Greenwich Wealth Management LLC raised its position in Annovis Bio by 9.3% in the third quarter. Greenwich Wealth Management LLC now owns 16,475 shares of the company’s stock worth $133,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new position in Annovis Bio in the first quarter worth about $122,000. Institutional investors and hedge funds own 15.83% of the company’s stock.

Annovis Bio Trading Down 2.0 %

Shares of Annovis Bio stock opened at $9.56 on Monday. The firm has a fifty day simple moving average of $8.59 and a 200-day simple moving average of $8.51. The stock has a market capitalization of $124.73 million, a price-to-earnings ratio of -1.87 and a beta of 1.72. Annovis Bio has a 1-year low of $4.53 and a 1-year high of $22.49.

Annovis Bio (NYSE:ANVS) last released its earnings results 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. As a group, research analysts predict that Annovis Bio will post -2.53 earnings per share for the current year.

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.