Annovis Bio, Inc. (NYSE:ANVS) Receives Average Rating of “Buy” from Analysts

Shares of Annovis Bio, Inc. (NYSE:ANVS) have received an average rating of “Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $32.17.

A number of research analysts have issued reports on the stock. Rodman & Renshaw restated a “buy” rating and set a $67.00 target price on shares of Annovis Bio in a research report on Tuesday, July 2nd. Maxim Group upgraded 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. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Annovis Bio in a report on Wednesday, October 16th. Finally, EF Hutton Acquisition Co. I raised Annovis Bio to a “strong-buy” rating in a report on Tuesday, August 13th.

Annovis Bio Trading Up 8.8 %

Shares of NYSE ANVS opened at $9.87 on Monday. The company has a market capitalization of $110.26 million, a P/E ratio of -1.72 and a beta of 1.72. Annovis Bio has a 12 month low of $4.53 and a 12 month high of $22.49. The stock has a 50 day moving average of $8.55 and a 200-day moving average of $8.54.

Annovis Bio (NYSE:ANVS) last announced its quarterly earnings results on Thursday, August 15th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.19. Analysts predict that Annovis Bio will post -2.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Redmond Asset Management LLC increased its stake in shares of Annovis Bio by 6.1% in the first quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock valued at $430,000 after buying an additional 2,077 shares during the period. Vanguard Group Inc. grew its holdings in Annovis Bio by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock worth $4,260,000 after acquiring an additional 20,588 shares during the last quarter. Cetera Advisors LLC acquired a new position in Annovis Bio in the 1st quarter valued at approximately $122,000. Greenwich Wealth Management LLC raised its stake in shares of Annovis Bio by 19.9% during the second quarter. Greenwich Wealth Management LLC now owns 15,075 shares of the company’s stock valued at $87,000 after acquiring an additional 2,500 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Annovis Bio during the second quarter valued at $115,000. 15.83% of the stock is currently owned by institutional investors and hedge funds.

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.