Annovis Bio, Inc. (NYSE:ANVS) Receives $31.40 Average Price Target from Analysts

Annovis Bio, Inc. (NYSE:ANVS - Get Free Report) has been given an average rating of "Buy" by the six brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $31.40.

A number of equities analysts recently issued reports on the company. HC Wainwright restated a "buy" rating and issued a $30.00 target price on shares of Annovis Bio in a research note on Monday, November 11th. Maxim Group raised shares of Annovis Bio from a "hold" rating to a "buy" rating and set a $25.00 price target for the company in a research report on Friday, October 25th.

Annovis Bio Price Performance

Annovis Bio stock traded down $0.26 during midday trading on Friday, reaching $4.90. The company's stock had a trading volume of 294,309 shares, compared to its average volume of 960,135. The stock has a market capitalization of $67.61 million, a P/E ratio of -1.10 and a beta of 1.64. The stock's 50-day simple moving average is $6.10 and its 200-day simple moving average is $8.04. Annovis Bio has a 52-week low of $4.21 and a 52-week high of $20.00.

Annovis Bio (NYSE:ANVS - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.33). As a group, equities research analysts expect that Annovis Bio will post -2.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Annovis Bio

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new stake in Annovis Bio during the third quarter valued at $31,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Annovis Bio during the 3rd quarter worth about $76,000. Geode Capital Management LLC grew its position in shares of Annovis Bio by 30.0% during the 3rd quarter. Geode Capital Management LLC now owns 99,114 shares of the company's stock valued at $799,000 after acquiring an additional 22,881 shares during the period. State Street Corp increased its stake in shares of Annovis Bio by 23.7% in the 3rd quarter. State Street Corp now owns 36,035 shares of the company's stock valued at $290,000 after purchasing an additional 6,900 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in Annovis Bio in the 3rd quarter worth about $371,000. 15.83% of the stock is owned by hedge funds and other institutional investors.

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.