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

Annovis Bio, Inc. (NYSE:ANVS) has earned an average rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $31.40.

A number of analysts have recently issued reports on ANVS shares. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Annovis Bio in a report on Monday, November 11th. Maxim Group upgraded Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Friday, October 25th.

Annovis Bio Stock Down 4.5 %

Annovis Bio stock opened at $2.94 on Wednesday. The company has a fifty day simple moving average of $4.98 and a 200-day simple moving average of $7.23. The firm has a market capitalization of $40.57 million, a price-to-earnings ratio of -0.66 and a beta of 1.63. Annovis Bio has a 52-week low of $2.88 and a 52-week high of $20.00.

Annovis Bio (NYSE:ANVS) last posted its quarterly 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). On average, research analysts anticipate that Annovis Bio will post -2.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ANVS. JPMorgan Chase & Co. acquired a new position in Annovis Bio during the third quarter worth $31,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Annovis Bio in the fourth quarter valued at $65,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Annovis Bio during the 3rd quarter valued at about $76,000. Greenwich Wealth Management LLC increased its position in Annovis Bio by 9.3% during the third quarter. Greenwich Wealth Management LLC now owns 16,475 shares of the company’s stock worth $133,000 after purchasing an additional 1,400 shares during the last quarter. Finally, State Street Corp raised its position in shares of Annovis Bio by 23.7% in 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 currently owned by hedge funds and other 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.