Analysts Set Annovis Bio, Inc. (NYSE:ANVS) PT at $31.40

Shares of Annovis Bio, Inc. (NYSE:ANVS) have earned an average rating of “Buy” from the six research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $31.40.

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

Annovis Bio Stock Down 4.5 %

Shares of NYSE:ANVS opened at $2.94 on Wednesday. The business has a fifty day simple moving average of $4.98 and a 200-day simple moving average of $7.18. Annovis Bio has a 52 week low of $2.88 and a 52 week high of $20.00. The company has a market cap of $41.87 million, a P/E ratio of -0.66 and a beta of 1.63.

Annovis Bio (NYSE:ANVS) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.33). Sell-side analysts expect that Annovis Bio will post -2.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Annovis Bio

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Merit Financial Group LLC raised its stake in shares of Annovis Bio by 269.0% during the fourth quarter. Merit Financial Group LLC now owns 98,516 shares of the company’s stock valued at $496,000 after purchasing an additional 71,816 shares during the period. Quest Partners LLC purchased a new stake in Annovis Bio during the 3rd quarter worth $371,000. Geode Capital Management LLC increased its stake in Annovis Bio by 30.0% during the 3rd quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock worth $799,000 after buying an additional 22,881 shares during the period. Atria Wealth Solutions Inc. acquired a new position in Annovis Bio in the 4th quarter worth $65,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Annovis Bio in the 3rd quarter valued at about $76,000. Institutional investors and hedge funds own 15.83% of the company’s stock.

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.