Annovis Bio, Inc. (NYSE:ANVS) Given Consensus Rating of "Buy" by Brokerages

Annovis Bio, Inc. (NYSE:ANVS - Get Free Report) has received an average recommendation of "Buy" from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, five have issued 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 a report on the stock in the last year is $32.17.

ANVS has been the subject of a number of research reports. HC Wainwright restated a "buy" rating and set a $30.00 target price on shares of Annovis Bio in a research report 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 objective on the stock in a research note on Friday, October 25th.

Annovis Bio Stock Up 2.2 %

Shares of Annovis Bio stock traded up $0.11 on Tuesday, reaching $5.11. 320,264 shares of the stock were exchanged, compared to its average volume of 722,847. The business has a 50 day moving average price of $7.60 and a two-hundred day moving average price of $8.20. The firm has a market capitalization of $70.50 million, a price-to-earnings ratio of -1.12 and a beta of 1.59. Annovis Bio has a twelve month low of $4.53 and a twelve month high of $22.49.

Annovis Bio (NYSE:ANVS - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.33). Research analysts forecast that Annovis Bio will post -2.19 EPS for the current year.

Institutional Trading of Annovis Bio

A number of institutional investors and hedge funds have recently made changes to their positions in ANVS. Wilmington Savings Fund Society FSB purchased a new stake in shares of Annovis Bio during the third quarter worth about $76,000. Geode Capital Management LLC boosted 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 buying an additional 22,881 shares during the last quarter. State Street Corp increased its stake 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 buying an additional 6,900 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Annovis Bio during the third quarter valued at approximately $371,000. Finally, Greenwich Wealth Management LLC lifted its position in shares of Annovis Bio by 9.3% in the third 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 in the last quarter. 15.83% of the stock is currently owned by hedge funds and other institutional investors.

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.