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

Shares of Annovis Bio, Inc. (NYSE:ANVS - Get Free Report) have been assigned an average recommendation of "Buy" from the seven ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $32.17.

Several research analysts have weighed in on the company. HC Wainwright restated a "buy" rating and issued a $30.00 price target on shares of Annovis Bio in a research note on Wednesday, October 16th. EF Hutton Acquisition Co. I upgraded shares of Annovis Bio to a "strong-buy" rating in a research report on Tuesday, August 13th. Maxim Group upgraded shares of Annovis Bio from a "hold" rating to a "buy" rating and set a $25.00 price target on the stock in a report on Friday. Finally, Rodman & Renshaw reissued a "buy" rating and set a $67.00 price objective on shares of Annovis Bio in a report on Tuesday, July 2nd.

Annovis Bio Stock Performance

Shares of ANVS stock traded down $0.17 on Monday, reaching $9.70. The stock had a trading volume of 361,734 shares, compared to its average volume of 800,446. Annovis Bio has a 1 year low of $4.53 and a 1 year high of $22.49. The stock has a market cap of $108.36 million, a P/E ratio of -1.83 and a beta of 1.72. The company has a 50 day simple moving average of $8.55 and a 200 day simple moving average of $8.54.

Annovis Bio (NYSE:ANVS - Get Free Report) last posted its quarterly earnings data on Thursday, August 15th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.19. On average, equities research analysts anticipate that Annovis Bio will post -2.53 earnings per share for the current fiscal year.

Institutional Trading of Annovis Bio

Institutional investors and hedge funds have recently modified their holdings of the stock. Redmond Asset Management LLC raised its position in shares of Annovis Bio by 6.1% in the 1st quarter. Redmond Asset Management LLC now owns 36,157 shares of the company's stock worth $430,000 after acquiring an additional 2,077 shares in the last quarter. Greenwich Wealth Management LLC boosted its holdings in shares of Annovis Bio by 19.9% in the 2nd quarter. Greenwich Wealth Management LLC now owns 15,075 shares of the company's stock valued at $87,000 after buying an additional 2,500 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Annovis Bio in the 1st quarter worth approximately $122,000. XTX Topco Ltd bought a new position in shares of Annovis Bio during the 2nd quarter worth approximately $115,000. Finally, Vanguard Group Inc. lifted its position in Annovis Bio by 6.1% during the first quarter. Vanguard Group Inc. now owns 357,942 shares of the company's stock valued at $4,260,000 after acquiring an additional 20,588 shares during the last quarter. Institutional investors 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.