Annovis Bio (NYSE:ANVS) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Annovis Bio (NYSE:ANVS) in a report published on Wednesday morning, Benzinga reports. They currently have a $30.00 target price on the stock.

Other analysts also recently issued reports about the company. EF Hutton Acquisition Co. I upgraded Annovis Bio to a “strong-buy” rating in a report on Tuesday, August 13th. Rodman & Renshaw reaffirmed a “buy” rating and set a $67.00 target price on shares of Annovis Bio in a research note on Tuesday, July 2nd. One equities 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 stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $33.60.

Annovis Bio Price Performance

Annovis Bio stock opened at $9.13 on Wednesday. The stock’s 50 day moving average is $8.38 and its 200 day moving average is $8.66. Annovis Bio has a one year low of $4.53 and a one year high of $22.49. The firm has a market cap of $101.99 million, a P/E ratio of -1.59 and a beta of 1.72.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.19. Equities analysts anticipate that Annovis Bio will post -2.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new stake in shares of Annovis Bio during the second quarter valued at approximately $115,000. Greenwich Wealth Management LLC raised its holdings in Annovis Bio by 19.9% during the second quarter. Greenwich Wealth Management LLC now owns 15,075 shares of the company’s stock worth $87,000 after buying an additional 2,500 shares during the last quarter. Cetera Advisors LLC bought a new position in shares of Annovis Bio in the first quarter valued at $122,000. Vanguard Group Inc. grew its holdings in shares of Annovis Bio by 6.1% during the first quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock valued at $4,260,000 after buying an additional 20,588 shares during the last quarter. Finally, Redmond Asset Management LLC increased its position in shares of 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 acquiring an additional 2,077 shares in the last quarter. 15.83% of the stock is owned by institutional investors and hedge funds.

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.