Annovis Bio, Inc. (NYSE:ANVS) Given Consensus Recommendation of “Buy” by Analysts

Shares of Annovis Bio, Inc. (NYSE:ANVS) have earned a consensus rating of “Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year 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 a number of recent research reports. EF Hutton Acquisition Co. I upgraded Annovis Bio to a “strong-buy” rating in a research note on Tuesday, August 13th. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Annovis Bio in a report on Monday, November 11th. Finally, Maxim Group upgraded shares of 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, October 25th.

Hedge Funds Weigh In On Annovis Bio

Several institutional investors and hedge funds have recently made changes to their positions in ANVS. Greenwich Wealth Management LLC boosted its stake in Annovis Bio by 9.3% during the 3rd quarter. Greenwich Wealth Management LLC now owns 16,475 shares of the company’s stock valued at $133,000 after acquiring an additional 1,400 shares during the last quarter. State Street Corp lifted its position in shares of Annovis Bio by 23.7% during the third quarter. State Street Corp now owns 36,035 shares of the company’s stock worth $290,000 after purchasing an additional 6,900 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Annovis Bio in the third quarter worth about $76,000. Cetera Advisors LLC bought a new stake in Annovis Bio in the first quarter valued at about $122,000. Finally, XTX Topco Ltd acquired a new stake in Annovis Bio during the second quarter valued at approximately $115,000. 15.83% of the stock is currently owned by hedge funds and other institutional investors.

Annovis Bio Stock Performance

NYSE ANVS opened at $6.54 on Friday. The firm has a market capitalization of $90.23 million, a price-to-earnings ratio of -1.47 and a beta of 1.70. Annovis Bio has a one year low of $4.53 and a one year high of $22.49. The company’s 50 day moving average price is $8.17 and its 200 day moving average price is $8.34.

Annovis Bio (NYSE:ANVS) last issued its earnings results on Friday, November 8th. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.33). Sell-side analysts forecast that Annovis Bio will post -2.19 EPS for the current fiscal 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.