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

Annovis Bio, Inc. (NYSE:ANVS) has received an average recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $11.6667.

Several brokerages have weighed in on ANVS. Weiss Ratings raised shares of Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Roth Capital began coverage on shares of Annovis Bio in a research note on Tuesday, July 7th. They issued a “buy” rating and a $8.00 price objective for the company. Canaccord Genuity Group restated a “buy” rating on shares of Annovis Bio in a research report on Tuesday, August 18th. Finally, Zacks Research upgraded shares of Annovis Bio to a “hold” rating in a research note on Thursday, July 9th.

Institutional Investors Weigh In On Annovis Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp bought a new position in shares of Annovis Bio in the second quarter worth about $29,000. Quadcap Wealth Management LLC bought a new stake in Annovis Bio during the 2nd quarter valued at approximately $30,000. JPMorgan Chase & Co. raised its stake in Annovis Bio by 69.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock valued at $32,000 after purchasing an additional 6,100 shares during the period. RKL Wealth Management LLC purchased a new position in Annovis Bio in the 4th quarter worth approximately $35,000. Finally, RFG Advisory LLC purchased a new position in Annovis Bio in the 4th quarter worth approximately $43,000. 15.83% of the stock is owned by institutional investors.

Annovis Bio Stock Up 3.7%

ANVS stock opened at $1.81 on Wednesday. Annovis Bio has a twelve month low of $1.54 and a twelve month high of $5.50. The stock has a market cap of $77.34 million, a P/E ratio of -1.01 and a beta of 1.25. The business’s 50-day moving average price is $1.80 and its 200-day moving average price is $2.06.

Annovis Bio (NYSE:ANVS) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. On average, equities research analysts expect that Annovis Bio will post -1.58 earnings per share for the current fiscal year.

Annovis Bio Company Profile

Annovis Bio, Inc (NYSE: ANVS) is a clinical-stage biotechnology company headquartered in Tampa, Florida, focused on the discovery and development of small molecule therapeutics for neurodegenerative and neuroinflammatory disorders. Leveraging a proprietary platform that targets protein trafficking and translational dysregulation, Annovis aims to restore cellular homeostasis by modulating the production and clearance of disease-related proteins. The company’s pipeline is designed to address critical pathways implicated in Alzheimer’s disease, Parkinson’s disease, multiple sclerosis and other central nervous system conditions.

The company’s lead asset, ANVS401 (Posiphen®), is an oral small molecule that has been evaluated in Phase 1 and Phase 2 clinical trials to reduce levels of amyloid precursor protein and its toxic fragments in Alzheimer’s patients.