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

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

ANVS has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Annovis Bio in a report on Monday, November 11th. Maxim Group upgraded Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Friday, October 25th.

Annovis Bio Stock Up 3.0 %

NYSE ANVS opened at $4.81 on Friday. The business has a 50-day moving average price of $5.95 and a 200-day moving average price of $8.04. The firm has a market cap of $66.36 million, a price-to-earnings ratio of -1.08 and a beta of 1.64. Annovis Bio has a twelve month low of $4.21 and a twelve month high of $20.00.

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

Institutional Investors Weigh In On Annovis Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Greenwich Wealth Management LLC increased its position in shares of Annovis Bio by 9.3% during the 3rd quarter. Greenwich Wealth Management LLC now owns 16,475 shares of the company’s stock valued at $133,000 after purchasing an additional 1,400 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in Annovis Bio during the third quarter worth $31,000. State Street Corp boosted its stake in Annovis Bio by 23.7% during the third quarter. State Street Corp now owns 36,035 shares of the company’s stock worth $290,000 after buying an additional 6,900 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Annovis Bio during the third quarter valued at $76,000. Finally, XTX Topco Ltd purchased a new stake in shares of Annovis Bio in the second quarter valued at $115,000. 15.83% of the stock is currently owned by hedge funds and other institutional investors.

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.