Annovis Bio, Inc. (NYSE:ANVS) Receives $17.33 Average PT from Analysts

Annovis Bio, Inc. (NYSE:ANVS) has been assigned a consensus rating of “Hold” from the six research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $17.3333.

Several analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Annovis Bio in a research report on Wednesday, October 8th. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 price objective on shares of Annovis Bio in a research report on Tuesday, September 30th. HC Wainwright reduced their price objective on Annovis Bio from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, September 3rd. Finally, Zacks Research upgraded Annovis Bio to a “hold” rating in a research report on Friday, August 8th.

Annovis Bio Stock Performance

Shares of ANVS stock opened at $1.99 on Monday. The stock has a fifty day moving average price of $2.29 and a 200 day moving average price of $2.21. The stock has a market cap of $38.69 million, a PE ratio of -0.97 and a beta of 1.63. Annovis Bio has a 1 year low of $1.11 and a 1 year high of $10.54.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.04. As a group, equities research analysts predict that Annovis Bio will post -2.19 earnings per share for the current year.

Institutional Trading of Annovis Bio

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC purchased a new stake in shares of Annovis Bio in the second quarter valued at $52,000. Marshall Wace LLP acquired a new position in Annovis Bio in the second quarter valued at $197,000. JPMorgan Chase & Co. increased its stake in Annovis Bio by 69.3% in the second quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock valued at $32,000 after purchasing an additional 6,100 shares during the last quarter. Geode Capital Management LLC increased its stake in Annovis Bio by 20.1% in the second quarter. Geode Capital Management LLC now owns 183,287 shares of the company’s stock valued at $398,000 after purchasing an additional 30,674 shares during the last quarter. Finally, Warberg Asset Management LLC acquired a new position in Annovis Bio in the first quarter valued at $58,000. 15.83% of the stock is currently owned by hedge funds and other institutional investors.

Annovis Bio Company Profile

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.