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

Shares of Annovis Bio, Inc. (NYSE:ANVS) have been assigned an average rating of “Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $32.17.

ANVS has been the topic of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Annovis Bio in a research note on Monday, November 11th. Maxim Group raised Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Friday, October 25th.

Annovis Bio Price Performance

NYSE:ANVS opened at $4.40 on Tuesday. Annovis Bio has a fifty-two week low of $4.38 and a fifty-two week high of $22.49. The business’s 50-day simple moving average is $7.39 and its 200-day simple moving average is $8.14. The stock has a market capitalization of $60.71 million, a PE ratio of -0.99 and a beta of 1.59.

Annovis Bio (NYSE:ANVS) last announced its earnings results on Friday, November 8th. The company reported ($0.97) earnings per share 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 Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new position in shares of Annovis Bio in the 3rd quarter valued at approximately $76,000. Cetera Advisors LLC bought a new stake in shares of Annovis Bio during the first quarter worth $122,000. Greenwich Wealth Management LLC lifted its stake 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 acquiring an additional 2,500 shares during the last quarter. XTX Topco Ltd bought a new position in Annovis Bio in the second quarter valued at about $115,000. Finally, State Street Corp boosted its position 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 buying an additional 6,900 shares during the period. 15.83% of the stock is owned by institutional investors.

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.