Analysts Set Annovis Bio, Inc. (NYSE:ANVS) PT at $32.17

Shares of Annovis Bio, Inc. (NYSE:ANVS) have earned an average recommendation of “Buy” from the seven research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $32.17.

A number of research analysts recently commented on the company. Maxim Group upgraded Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Friday, October 25th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Annovis Bio in a report on Monday, November 11th. Finally, EF Hutton Acquisition Co. I raised shares of Annovis Bio to a “strong-buy” rating in a research note on Tuesday, August 13th.

Hedge Funds Weigh In On Annovis Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC bought a new stake in shares of Annovis Bio during the 3rd quarter worth about $371,000. Geode Capital Management LLC increased its stake in shares of Annovis Bio by 30.0% during the third quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock valued at $799,000 after acquiring an additional 22,881 shares during the period. Vanguard Group Inc. raised 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 in the last quarter. XTX Topco Ltd acquired a new stake in Annovis Bio in the second quarter worth approximately $115,000. Finally, Cetera Advisors LLC bought a new position in Annovis Bio during the 1st quarter valued at $122,000. Institutional investors own 15.83% of the company’s stock.

Annovis Bio Stock Performance

NYSE ANVS opened at $6.54 on Friday. Annovis Bio has a one year low of $4.53 and a one year high of $22.49. The company has a 50-day simple moving average of $8.17 and a 200-day simple moving average of $8.34. The firm has a market capitalization of $90.23 million, a PE ratio of -1.47 and a beta of 1.70.

Annovis Bio (NYSE:ANVS) last issued its earnings results on Friday, November 8th. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.33). Equities analysts forecast that Annovis Bio will post -2.19 earnings per share for the current 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.