Greenwich Wealth Management LLC Has $87,000 Stock Position in Annovis Bio, Inc. (NYSE:ANVS)

Greenwich Wealth Management LLC lifted its stake in Annovis Bio, Inc. (NYSE:ANVS) by 19.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,075 shares of the company’s stock after purchasing an additional 2,500 shares during the quarter. Greenwich Wealth Management LLC owned 0.13% of Annovis Bio worth $87,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Advisors LLC acquired a new position in shares of Annovis Bio in the 1st quarter valued at $122,000. Redmond Asset Management LLC boosted 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 valued at $430,000 after purchasing an additional 2,077 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Annovis Bio by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock valued at $4,260,000 after purchasing an additional 20,588 shares during the period. Institutional investors and hedge funds own 15.83% of the company’s stock.

Annovis Bio Price Performance

ANVS opened at $8.02 on Tuesday. Annovis Bio, Inc. has a fifty-two week low of $4.53 and a fifty-two week high of $22.49. The business has a 50-day moving average of $9.53 and a 200-day moving average of $8.94. The company has a market capitalization of $89.59 million, a PE ratio of -1.39 and a beta of 1.73.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. EF Hutton Acquisition Co. I raised Annovis Bio to a “strong-buy” rating in a research note on Tuesday, August 13th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Annovis Bio in a research note on Thursday, August 15th. Finally, Rodman & Renshaw reissued a “buy” rating and issued a $67.00 price objective on shares of Annovis Bio in a research note on Tuesday, July 2nd. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $33.60.

Annovis Bio 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.