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

Annovis Bio, Inc. (NYSE:ANVS) has been given a consensus rating of “Buy” by the seven brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $32.17.

A number of equities research analysts have commented on the company. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Annovis Bio in a research report on Monday, November 11th. Maxim Group upgraded shares of Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Friday, October 25th.

Annovis Bio Stock Down 5.4 %

Shares of ANVS opened at $5.03 on Tuesday. Annovis Bio has a 52-week low of $4.53 and a 52-week high of $22.49. The stock has a fifty day simple moving average of $7.60 and a two-hundred day simple moving average of $8.20. The company has a market capitalization of $69.33 million, a PE ratio of -1.13 and a beta of 1.59.

Annovis Bio (NYSE:ANVS) last released 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). As a group, equities analysts anticipate that Annovis Bio will post -2.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Annovis Bio

Hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in Annovis Bio in the 3rd quarter valued at approximately $76,000. Geode Capital Management LLC raised its stake in shares of Annovis Bio by 30.0% in the third quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock valued at $799,000 after acquiring an additional 22,881 shares in the last quarter. State Street Corp boosted its stake in shares of Annovis Bio by 23.7% in the 3rd quarter. State Street Corp now owns 36,035 shares of the company’s stock valued at $290,000 after buying an additional 6,900 shares during the period. Quest Partners LLC purchased a new position in Annovis Bio in the third quarter worth approximately $371,000. Finally, Greenwich Wealth Management LLC grew its stake in shares of Annovis Bio by 9.3% during 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. Institutional investors and hedge funds 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.