Annovis Bio, Inc. (NYSE:ANVS) Shares Purchased by Merit Financial Group LLC

Merit Financial Group LLC increased its stake in shares of Annovis Bio, Inc. (NYSE:ANVS) by 269.0% in the fourth quarter, HoldingsChannel reports. The firm owned 98,516 shares of the company’s stock after buying an additional 71,816 shares during the quarter. Merit Financial Group LLC’s holdings in Annovis Bio were worth $496,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. XTX Topco Ltd purchased a new stake in shares of Annovis Bio during the 2nd quarter valued at $115,000. Greenwich Wealth Management LLC grew its position in 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. Quest Partners LLC purchased a new position in Annovis Bio in the 3rd quarter valued at about $371,000. State Street Corp increased its holdings 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 purchasing an additional 6,900 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Annovis Bio by 30.0% during the 3rd quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock worth $799,000 after acquiring an additional 22,881 shares in the last quarter. Hedge funds and other institutional investors own 15.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. 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 research report on Friday, October 25th. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Annovis Bio in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $31.40.

Annovis Bio Stock Performance

Annovis Bio stock opened at $5.11 on Friday. The firm has a market capitalization of $70.52 million, a price-to-earnings ratio of -1.15 and a beta of 1.64. Annovis Bio, Inc. has a 52 week low of $4.21 and a 52 week high of $20.00. The company has a 50 day moving average price of $5.56 and a 200 day moving average price of $7.88.

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

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.