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

Annovis Bio, Inc. (NYSE:ANVS) has been given an average rating of “Buy” by the seven ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $32.17.

Several equities analysts recently weighed in 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 for the company in a research report on Friday, October 25th. EF Hutton Acquisition Co. I raised shares of Annovis Bio to a “strong-buy” rating in a research report on Tuesday, August 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Annovis Bio in a report on Monday, November 11th.

Annovis Bio Stock Down 2.1 %

ANVS stock opened at $6.65 on Friday. The firm has a market cap of $91.75 million, a PE ratio of -1.49 and a beta of 1.70. The business has a 50 day moving average of $8.27 and a 200-day moving average of $8.34. Annovis Bio has a 12-month low of $4.53 and a 12-month high of $22.49.

Annovis Bio (NYSE:ANVS) 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). On average, research analysts expect that Annovis Bio will post -2.19 earnings per share for the current year.

Institutional Investors Weigh In On Annovis Bio

Several hedge funds and other institutional investors have recently modified their holdings of ANVS. Greenwich Wealth Management LLC boosted its position in shares of Annovis Bio by 19.9% in 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 period. XTX Topco Ltd purchased a new stake in Annovis Bio in the 2nd quarter worth approximately $115,000. Cetera Advisors LLC bought a new position in Annovis Bio in the 1st quarter valued at $122,000. State Street Corp grew its position in shares of Annovis Bio by 23.7% during the 3rd 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 in the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Annovis Bio during the 3rd quarter valued at $371,000. 15.83% of the stock is currently owned by institutional investors.

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.