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

Shares of Annovis Bio, Inc. (NYSE:ANVS) have been given a consensus recommendation of “Buy” by the six research firms that are presently covering the firm, MarketBeat Ratings reports. One 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 12-month price target among analysts that have issued ratings on the stock in the last year is $31.40.

A number of research firms have issued reports on ANVS. Maxim Group upgraded shares of 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 reiterated a “buy” rating and set a $30.00 price objective on shares of Annovis Bio in a report on Monday, November 11th.

Hedge Funds Weigh In On Annovis Bio

Several hedge funds have recently bought and sold shares of the business. Merit Financial Group LLC lifted its position in shares of Annovis Bio by 269.0% in the fourth quarter. Merit Financial Group LLC now owns 98,516 shares of the company’s stock worth $496,000 after buying an additional 71,816 shares during the last quarter. State Street Corp lifted its holdings in Annovis Bio by 23.7% in the 3rd quarter. State Street Corp now owns 36,035 shares of the company’s stock worth $290,000 after purchasing an additional 6,900 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Annovis Bio by 30.0% in the 3rd quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock worth $799,000 after purchasing an additional 22,881 shares during the last quarter. Quest Partners LLC bought a new stake in Annovis Bio during the third quarter worth approximately $371,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Annovis Bio during the third quarter valued at approximately $76,000. 15.83% of the stock is owned by institutional investors and hedge funds.

Annovis Bio Stock Down 3.2 %

Shares of NYSE:ANVS opened at $3.14 on Wednesday. The company has a market cap of $43.26 million, a P/E ratio of -0.70 and a beta of 1.63. The company’s fifty day moving average is $5.19 and its two-hundred day moving average is $7.34. Annovis Bio has a 12-month low of $2.99 and a 12-month high of $20.00.

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