Annovis Bio, Inc. (NYSE:ANVS) Given Average Recommendation of “Buy” by Brokerages

Annovis Bio, Inc. (NYSE:ANVS) has earned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $37.00.

Several research firms recently issued reports on ANVS. D. Boral Capital reaffirmed a “hold” rating on shares of Annovis Bio in a research note on Monday, February 10th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Annovis Bio in a research report on Monday, November 11th.

Annovis Bio Stock Up 1.7 %

NYSE ANVS opened at $1.82 on Friday. The stock has a market capitalization of $25.91 million, a PE ratio of -0.41 and a beta of 1.63. Annovis Bio has a 12-month low of $1.67 and a 12-month high of $20.00. The company has a 50 day moving average price of $4.00 and a two-hundred day moving average price of $6.50.

Institutional Trading of Annovis Bio

Institutional investors have recently modified their holdings of the company. Greenwich Wealth Management LLC grew its stake in 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 buying an additional 1,400 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Annovis Bio in the third quarter valued at approximately $31,000. Lokken Investment Group LLC boosted its stake in Annovis Bio by 49.0% in the fourth quarter. Lokken Investment Group LLC now owns 18,235 shares of the company’s stock valued at $92,000 after acquiring an additional 6,000 shares during the last quarter. State Street Corp grew its holdings 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, Wilmington Savings Fund Society FSB bought a new stake in shares of Annovis Bio during the 3rd quarter valued at $76,000. Institutional investors and hedge funds own 15.83% of the company’s stock.

About Annovis Bio

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.