Brokerages Set Annovis Bio, Inc. (NYSE:ANVS) Price Target at $32.17

Shares of Annovis Bio, Inc. (NYSE:ANVS) have been given an average recommendation of “Buy” by 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 issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $32.17.

ANVS has been the subject of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Annovis Bio in a research report on Monday, November 11th. Maxim Group raised Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, October 25th.

Annovis Bio Price Performance

Annovis Bio stock opened at $4.40 on Tuesday. Annovis Bio has a 12-month low of $4.38 and a 12-month high of $22.49. The firm’s fifty day moving average price is $7.39 and its 200 day moving average price is $8.14. The company has a market capitalization of $60.71 million, a price-to-earnings ratio of -0.99 and a beta of 1.59.

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). Analysts forecast that Annovis Bio will post -2.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Annovis Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Annovis Bio during the 3rd quarter worth about $76,000. Greenwich Wealth Management LLC lifted its position in Annovis Bio by 19.9% during the 2nd quarter. Greenwich Wealth Management LLC now owns 15,075 shares of the company’s stock worth $87,000 after buying an additional 2,500 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Annovis Bio during the second quarter worth approximately $115,000. Cetera Advisors LLC acquired a new position in Annovis Bio during the 1st quarter worth $122,000. Finally, State Street Corp increased its stake 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 valued at $290,000 after buying an additional 6,900 shares during the period. Institutional investors and hedge funds own 15.83% of the company’s stock.

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.