Annovis Bio, Inc. (NYSE:ANVS) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Annovis Bio, Inc. (NYSE:ANVS) have earned a consensus recommendation of “Buy” from the seven research firms that are covering the company, Marketbeat.com reports. One equities 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 brokers that have covered the stock in the last year is $32.17.

Several research firms have commented on ANVS. Maxim Group raised shares of Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Friday, October 25th. EF Hutton Acquisition Co. I raised shares of Annovis Bio to a “strong-buy” rating in a research report on Tuesday, August 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Annovis Bio in a report on Monday, November 11th.

Annovis Bio Stock Performance

NYSE ANVS opened at $6.79 on Friday. Annovis Bio has a one year low of $4.53 and a one year high of $22.49. The company has a market capitalization of $93.70 million, a price-to-earnings ratio of -1.52 and a beta of 1.70. The company’s 50-day simple moving average is $8.30 and its two-hundred day simple moving average is $8.29.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings data on Friday, November 8th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.33). Equities analysts expect that Annovis Bio will post -2.19 earnings per share for the current fiscal year.

Institutional Trading of Annovis Bio

Large investors have recently bought and sold shares of the stock. Cetera Advisors LLC purchased a new position in shares of Annovis Bio in the first quarter worth $122,000. Greenwich Wealth Management LLC increased its position in shares of Annovis Bio by 19.9% in the 2nd quarter. Greenwich Wealth Management LLC now owns 15,075 shares of the company’s stock valued at $87,000 after acquiring an additional 2,500 shares during the period. XTX Topco Ltd purchased a new position in Annovis Bio in the 2nd quarter worth $115,000. State Street Corp lifted its position in Annovis Bio by 23.7% during the 3rd quarter. State Street Corp now owns 36,035 shares of the company’s stock worth $290,000 after acquiring an additional 6,900 shares during the period. Finally, Quest Partners LLC purchased a new stake in Annovis Bio during the 3rd quarter valued at about $371,000. Hedge funds and other institutional investors own 15.83% of the company’s stock.

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.