Annovis Bio, Inc. (NYSE:ANVS) Receives $13.50 Consensus Target Price from Analysts

Shares of Annovis Bio, Inc. (NYSE:ANVS) have been given a consensus recommendation of “Hold” by the five analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $13.50.

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

Hedge Funds Weigh In On Annovis Bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Annovis Bio by 5.9% during the third quarter. Vanguard Group Inc. now owns 738,003 shares of the company’s stock worth $1,528,000 after buying an additional 41,239 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Annovis Bio during the 2nd quarter worth approximately $52,000. Marshall Wace LLP bought a new stake in shares of Annovis Bio in the 2nd quarter worth approximately $197,000. JPMorgan Chase & Co. raised its holdings in shares of Annovis Bio by 69.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock worth $32,000 after purchasing an additional 6,100 shares during the period. Finally, Geode Capital Management LLC lifted 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. 15.83% of the stock is owned by hedge funds and other institutional investors.

Annovis Bio Trading Up 1.0%

Shares of Annovis Bio stock opened at $2.01 on Friday. The company has a market capitalization of $49.13 million, a P/E ratio of -0.99 and a beta of 1.61. The stock has a fifty day simple moving average of $2.15 and a 200 day simple moving average of $2.31. Annovis Bio has a 12-month low of $1.11 and a 12-month high of $8.70.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.04. On average, analysts predict 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.