Annovis Bio, Inc. (NYSE:ANVS) Receives $32.17 Consensus PT from Analysts

Shares of Annovis Bio, Inc. (NYSE:ANVS) have earned an average rating of “Buy” from the seven brokerages that are covering the firm, Marketbeat reports. One 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 1-year price target among analysts that have issued ratings on the stock in the last year is $32.17.

Several research firms have recently weighed in on ANVS. EF Hutton Acquisition Co. I raised shares of Annovis Bio to a “strong-buy” rating in a report on Tuesday, August 13th. Maxim Group raised shares of Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Friday, October 25th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Annovis Bio in a report on Wednesday, October 16th.

Institutional Trading of Annovis Bio

Several hedge funds have recently modified their holdings of the stock. Greenwich Wealth Management LLC grew its stake in shares of Annovis Bio by 9.3% during the third quarter. Greenwich Wealth Management LLC now owns 16,475 shares of the company’s stock valued at $133,000 after purchasing an additional 1,400 shares during the last quarter. Redmond Asset Management LLC boosted its stake 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. Cetera Advisors LLC bought a new position in Annovis Bio in the first quarter valued at approximately $122,000. XTX Topco Ltd bought a new position in Annovis Bio in the second quarter valued at approximately $115,000. Finally, Vanguard Group Inc. boosted its stake in Annovis Bio by 6.1% in the first quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock valued at $4,260,000 after acquiring an additional 20,588 shares during the last quarter. 15.83% of the stock is owned by institutional investors.

Annovis Bio Trading Down 2.0 %

NYSE ANVS opened at $9.56 on Monday. The firm has a market cap of $124.73 million, a price-to-earnings ratio of -1.87 and a beta of 1.72. The company has a 50 day moving average of $8.59 and a 200-day moving average of $8.51. Annovis Bio has a 1-year low of $4.53 and a 1-year high of $22.49.

Annovis Bio (NYSE:ANVS) last posted its quarterly earnings data on Thursday, August 15th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.19. On average, analysts forecast that Annovis Bio will post -2.53 earnings per share 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.