JPMorgan Chase & Co. Takes $31,000 Position in Annovis Bio, Inc. (NYSE:ANVS)

JPMorgan Chase & Co. acquired a new position in shares of Annovis Bio, Inc. (NYSE:ANVS) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,800 shares of the company’s stock, valued at approximately $31,000.

A number of other institutional investors also recently bought and sold shares of ANVS. Geode Capital Management LLC increased its holdings 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 purchasing an additional 22,881 shares during the period. Quest Partners LLC acquired a new stake in shares of Annovis Bio in the third quarter valued at about $371,000. State Street Corp boosted its stake in shares of 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 in the last quarter. Greenwich Wealth Management LLC grew its stake in Annovis Bio by 9.3% in the 3rd quarter. Greenwich Wealth Management LLC now owns 16,475 shares of the company’s stock valued at $133,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Annovis Bio during the third quarter worth about $76,000. 15.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Annovis Bio Price Performance

NYSE ANVS opened at $3.14 on Wednesday. The firm has a market capitalization of $43.26 million, a P/E ratio of -0.70 and a beta of 1.63. Annovis Bio, Inc. has a 1-year low of $2.99 and a 1-year high of $20.00. The business’s 50-day simple moving average is $5.19 and its 200-day simple moving average is $7.34.

Annovis Bio (NYSE:ANVS) last posted its earnings results on Friday, November 8th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.33). On average, equities research analysts expect that Annovis Bio, Inc. will post -2.19 EPS for the current fiscal 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.