State Street Corp Increases Stock Holdings in Annovis Bio, Inc. (NYSE:ANVS)

State Street Corp raised its position in Annovis Bio, Inc. (NYSE:ANVS) by 23.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,035 shares of the company’s stock after purchasing an additional 6,900 shares during the quarter. State Street Corp owned 0.26% of Annovis Bio worth $290,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Greenwich Wealth Management LLC increased its holdings 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 stake in Annovis Bio during the 2nd quarter valued at about $115,000. Finally, Quest Partners LLC purchased a new position in Annovis Bio during the 3rd quarter worth approximately $371,000. Institutional investors own 15.83% of the company’s stock.

Annovis Bio Price Performance

Shares of NYSE ANVS opened at $5.39 on Friday. Annovis Bio, Inc. has a 1-year low of $4.21 and a 1-year high of $20.00. The company has a market cap of $74.37 million, a price-to-earnings ratio of -1.21 and a beta of 1.59. The stock’s 50-day moving average is $6.53 and its two-hundred day moving average is $8.04.

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). Equities research analysts anticipate that Annovis Bio, Inc. will post -2.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ANVS has been the subject of several recent analyst reports. Maxim Group upgraded Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Friday, October 25th. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Annovis Bio in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Annovis Bio presently has an average rating of “Buy” and an average target price of $31.40.

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.