Brokerages Set Annovis Bio, Inc. (NYSE:ANVS) Target Price at $32.17

Shares of Annovis Bio, Inc. (NYSE:ANVS - Get Free Report) have received a consensus rating of "Buy" from the seven research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $32.17.

Several brokerages have recently weighed in on ANVS. EF Hutton Acquisition Co. I raised shares of Annovis Bio to a "strong-buy" rating in a research note on Tuesday, August 13th. Maxim Group raised shares of Annovis Bio from a "hold" rating to a "buy" rating and set a $25.00 target price on the stock in a research report on Friday, October 25th. Finally, HC Wainwright restated a "buy" rating and issued a $30.00 price target on shares of Annovis Bio in a report on Monday, November 11th.

Annovis Bio Trading Down 0.1 %

ANVS stock traded down $0.01 during midday trading on Friday, reaching $6.78. 111,498 shares of the company's stock traded hands, compared to its average volume of 750,718. The stock's 50-day moving average is $8.30 and its 200 day moving average is $8.29. The stock has a market cap of $93.56 million, a P/E ratio of -1.52 and a beta of 1.70. Annovis Bio has a 52-week low of $4.53 and a 52-week high of $22.49.

Annovis Bio (NYSE:ANVS - Get Free Report) last announced its quarterly earnings data 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). As a group, research analysts expect that Annovis Bio will post -2.19 EPS for the current fiscal year.

Institutional Trading of Annovis Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Annovis Bio by 30.0% in the third quarter. Geode Capital Management LLC now owns 99,114 shares of the company's stock valued at $799,000 after purchasing an additional 22,881 shares during the period. State Street Corp grew its position in shares of Annovis Bio by 23.7% in the third 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 during the period. Quest Partners LLC acquired a new stake in shares of Annovis Bio in the third quarter valued at about $371,000. Greenwich Wealth Management LLC boosted its position 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 acquiring an additional 1,400 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Annovis Bio during the second quarter worth about $115,000. 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.