Annovis Bio (NYSE:ANVS) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Annovis Bio (NYSE:ANVS) from a strong sell rating to a sell rating in a research report sent to investors on Saturday.

Several other brokerages also recently commented on ANVS. Zacks Research upgraded Annovis Bio to a “hold” rating in a report on Thursday, July 9th. Roth Capital decreased their price target on Annovis Bio from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday. Weiss Ratings raised shares of Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating on shares of Annovis Bio in a research report on Tuesday, August 18th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.33.

Annovis Bio Stock Performance

Shares of NYSE ANVS opened at $1.72 on Friday. Annovis Bio has a 1 year low of $1.54 and a 1 year high of $5.50. The firm’s 50 day moving average price is $1.80 and its 200 day moving average price is $2.04. The firm has a market cap of $73.29 million, a P/E ratio of -0.96 and a beta of 1.25.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.05. As a group, equities analysts predict that Annovis Bio will post -1.58 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Empery Asset Management LP acquired a new stake in shares of Annovis Bio during the 2nd quarter valued at $4,466,745. Renaissance Technologies LLC bought a new stake in shares of Annovis Bio during the 1st quarter worth $775,000. BlackRock Inc. acquired a new position in shares of Annovis Bio in the 2nd quarter worth $465,000. GSA Capital Partners LLP acquired a new position in shares of Annovis Bio in the 2nd quarter worth $93,000. Finally, Quadcap Wealth Management LLC acquired a new stake in shares of Annovis Bio during the second quarter worth $30,000. 15.83% of the stock is owned by institutional investors and hedge funds.

About Annovis Bio

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.