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

Shares of Annovis Bio, Inc. (NYSE:ANVS) have been assigned an average recommendation of “Buy” from the six analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $33.60.

A number of equities research analysts have commented on the stock. EF Hutton Acquisition Co. I upgraded shares of Annovis Bio to a “strong-buy” rating in a report on Tuesday, August 13th. Canaccord Genuity Group reduced their price target on shares of Annovis Bio from $36.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Rodman & Renshaw restated a “buy” rating and issued a $67.00 price target on shares of Annovis Bio in a report on Tuesday, July 2nd. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Annovis Bio in a report on Thursday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANVS. Greenwich Wealth Management LLC purchased a new position in Annovis Bio during the fourth quarter worth about $192,000. Wealthspire Advisors LLC boosted its holdings in Annovis Bio by 9.9% during the fourth quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock worth $206,000 after purchasing an additional 990 shares during the last quarter. Redmond Asset Management LLC boosted its holdings in Annovis Bio by 6.1% during the first quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock worth $430,000 after purchasing an additional 2,077 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Annovis Bio by 6.1% during the first quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock worth $4,260,000 after purchasing an additional 20,588 shares during the last quarter. Finally, Cetera Advisors LLC purchased a new position in Annovis Bio during the first quarter worth about $122,000. 15.83% of the stock is currently owned by hedge funds and other institutional investors.

Annovis Bio Stock Down 3.6 %

Shares of NYSE ANVS opened at $8.53 on Wednesday. Annovis Bio has a twelve month low of $4.53 and a twelve month high of $22.49. The firm has a fifty day simple moving average of $8.81 and a 200 day simple moving average of $9.15. The company has a market capitalization of $95.29 million, a PE ratio of -1.48 and a beta of 1.74.

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.