Annovis Bio, Inc. (NYSE:ANVS) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Annovis Bio, Inc. (NYSE:ANVS) have been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $17.3333.

A number of brokerages recently weighed in on ANVS. HC Wainwright lowered their price target on shares of Annovis Bio from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Zacks Research raised shares of Annovis Bio to a “hold” rating in a report on Friday, August 8th.

Institutional Trading of Annovis Bio

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in Annovis Bio by 69.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock worth $32,000 after acquiring an additional 6,100 shares during the period. Lokken Investment Group LLC grew its holdings in Annovis Bio by 60.3% during the 1st quarter. Lokken Investment Group LLC now owns 29,235 shares of the company’s stock worth $44,000 after acquiring an additional 11,000 shares during the period. Jane Street Group LLC acquired a new stake in Annovis Bio during the 2nd quarter worth $52,000. Two Sigma Investments LP acquired a new stake in Annovis Bio during the 4th quarter worth $55,000. Finally, Warberg Asset Management LLC acquired a new stake in Annovis Bio during the 1st quarter worth $58,000. Institutional investors and hedge funds own 15.83% of the company’s stock.

Annovis Bio Price Performance

Shares of Annovis Bio stock opened at $2.31 on Thursday. The firm has a market cap of $45.02 million, a P/E ratio of -1.13 and a beta of 1.65. The firm has a 50 day simple moving average of $2.54 and a 200 day simple moving average of $2.18. Annovis Bio has a fifty-two week low of $1.11 and a fifty-two week high of $10.54.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.04. On average, sell-side analysts expect that Annovis Bio will post -2.19 EPS for the current year.

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.