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

Annovis Bio, Inc. (NYSE:ANVS) has been assigned an average rating of “Buy” from the six analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $37.00.

Separately, D. Boral Capital reissued a “hold” rating on shares of Annovis Bio in a research note on Monday, February 10th.

Hedge Funds Weigh In On Annovis Bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. purchased a new position in shares of Annovis Bio in the 3rd quarter valued at $31,000. Two Sigma Investments LP acquired a new position in Annovis Bio in the fourth quarter valued at $55,000. XTX Topco Ltd purchased a new position in shares of Annovis Bio during the fourth quarter worth about $59,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Annovis Bio during the fourth quarter worth about $65,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Annovis Bio in the 3rd quarter valued at about $76,000. Hedge funds and other institutional investors own 15.83% of the company’s stock.

Annovis Bio Stock Performance

NYSE:ANVS opened at $1.50 on Thursday. The stock has a market capitalization of $21.28 million, a P/E ratio of -0.34 and a beta of 1.65. Annovis Bio has a fifty-two week low of $1.43 and a fifty-two week high of $20.00. The company has a 50 day moving average price of $2.62 and a 200 day moving average price of $5.45.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings data on Friday, March 21st. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). During the same quarter last year, the business earned ($0.43) earnings per share. Research analysts forecast that Annovis Bio will post -2.19 earnings per share for the current fiscal year.

Annovis Bio Company Profile

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.