Geode Capital Management LLC Has $799,000 Position in Annovis Bio, Inc. (NYSE:ANVS)

Geode Capital Management LLC raised its holdings in shares of Annovis Bio, Inc. (NYSE:ANVS) by 30.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,114 shares of the company’s stock after purchasing an additional 22,881 shares during the quarter. Geode Capital Management LLC owned approximately 0.72% of Annovis Bio worth $799,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Greenwich Wealth Management LLC lifted its holdings in Annovis Bio by 9.3% during the 3rd 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 during the last quarter. State Street Corp lifted its holdings in shares of Annovis Bio by 23.7% during the third quarter. State Street Corp now owns 36,035 shares of the company’s stock worth $290,000 after buying an additional 6,900 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Annovis Bio in the second quarter valued at about $115,000. Finally, Quest Partners LLC bought a new stake in shares of Annovis Bio in the third quarter valued at about $371,000. 15.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

ANVS has been the subject of a number of recent analyst reports. Maxim Group upgraded Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Friday, October 25th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Annovis Bio in a research note on Monday, November 11th. One 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $31.40.

Annovis Bio Stock Performance

Shares of ANVS opened at $4.90 on Friday. The firm has a market cap of $67.61 million, a PE ratio of -1.10 and a beta of 1.64. Annovis Bio, Inc. has a 52-week low of $4.21 and a 52-week high of $20.00. The business’s 50 day moving average price is $6.10 and its two-hundred day moving average price is $8.02.

Annovis Bio (NYSE:ANVS) last posted its quarterly 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). Research analysts predict that Annovis Bio, Inc. will post -2.19 EPS for the current fiscal year.

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.