Analysts Set Annovis Bio, Inc. (NYSE:ANVS) PT at $31.40

Shares of Annovis Bio, Inc. (NYSE:ANVS) have been assigned an average recommendation of “Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $31.40.

A number of brokerages have issued reports on ANVS. Maxim Group raised shares of 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. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Annovis Bio in a research report on Monday, November 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANVS. Greenwich Wealth Management LLC grew its position in Annovis Bio by 19.9% in the second quarter. Greenwich Wealth Management LLC now owns 15,075 shares of the company’s stock worth $87,000 after acquiring an additional 2,500 shares in the last quarter. XTX Topco Ltd purchased a new position in Annovis Bio in the second quarter worth $115,000. Quest Partners LLC purchased a new position in Annovis Bio in the third quarter worth $371,000. State Street Corp grew its position in Annovis Bio by 23.7% in the third quarter. State Street Corp now owns 36,035 shares of the company’s stock worth $290,000 after acquiring an additional 6,900 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Annovis Bio by 30.0% in the third 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. 15.83% of the stock is currently owned by hedge funds and other institutional investors.

Annovis Bio Price Performance

Shares of ANVS stock opened at $4.77 on Friday. The company’s fifty day simple moving average is $6.02 and its two-hundred day simple moving average is $8.04. Annovis Bio has a 1 year low of $4.21 and a 1 year high of $20.00. The stock has a market capitalization of $65.81 million, a price-to-earnings ratio of -1.07 and a beta of 1.64.

Annovis Bio (NYSE:ANVS) last issued its earnings results 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). Equities research analysts anticipate that Annovis Bio will post -2.19 EPS for the current year.

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.