Annovis Bio, Inc. (NYSE:ANVS) Receives Average Recommendation of “Buy” from Brokerages

by · The Markets Daily

Shares of Annovis Bio, Inc. (NYSE:ANVS – Get Free Report) have earned an average recommendation of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $33.60.

Several equities research analysts have weighed in on the company. Rodman & Renshaw restated a “buy” rating and set a $67.00 price target on shares of Annovis Bio in a report on Tuesday, July 2nd. EF Hutton Acquisition Co. I upgraded shares of Annovis Bio to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Annovis Bio in a research note on Tuesday, October 1st.

Get Our Latest Report on ANVS

Annovis Bio Stock Down 2.5 %

NYSE:ANVS opened at $8.20 on Thursday. Annovis Bio has a 52 week low of $4.53 and a 52 week high of $22.49. The stock’s fifty day moving average is $8.52 and its two-hundred day moving average is $8.84. The stock has a market capitalization of $91.60 million, a price-to-earnings ratio of -1.43 and a beta of 1.72.

Annovis Bio (NYSE:ANVS – Get Free Report) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.19. On average, sell-side analysts expect that Annovis Bio will post -2.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Annovis Bio

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Redmond Asset Management LLC lifted its position in Annovis Bio by 6.1% in the first quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock valued at $430,000 after acquiring an additional 2,077 shares during the last quarter. Greenwich Wealth Management LLC increased its position in shares of Annovis Bio by 19.9% during the second quarter. Greenwich Wealth Management LLC now owns 15,075 shares of the company’s stock worth $87,000 after purchasing an additional 2,500 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of Annovis Bio in the 1st quarter valued at about $122,000. XTX Topco Ltd acquired a new stake in shares of Annovis Bio in the 2nd quarter valued at about $115,000. Finally, Vanguard Group Inc. grew its stake in Annovis Bio by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock worth $4,260,000 after buying an additional 20,588 shares during the last quarter. Institutional investors and hedge funds own 15.83% of the company’s stock.

Annovis Bio Company Profile

(Get Free Report

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.

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