Annovis Bio (NYSE:ANVS) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Annovis Bio (NYSE:ANVS) posted its earnings results on Friday. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.08), FiscalAI reports.

Annovis Bio Stock Up 2.3%

ANVS opened at $2.52 on Friday. The company has a market cap of $66.68 million, a PE ratio of -1.75 and a beta of 1.32. Annovis Bio has a twelve month low of $1.11 and a twelve month high of $5.50. The company has a 50-day moving average price of $2.81 and a 200 day moving average price of $2.84.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Annovis Bio in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Annovis Bio currently has an average rating of “Hold” and an average price target of $13.50.

Hedge Funds Weigh In On Annovis Bio

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Annovis Bio by 69.3% in the second quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock valued at $32,000 after acquiring an additional 6,100 shares in the last quarter. RKL Wealth Management LLC acquired a new position in Annovis Bio in the 4th quarter valued at $35,000. Wells Fargo & Company MN lifted its holdings in Annovis Bio by 46.8% in the 4th quarter. Wells Fargo & Company MN now owns 14,307 shares of the company’s stock valued at $50,000 after purchasing an additional 4,561 shares in the last quarter. Jane Street Group LLC purchased a new position in Annovis Bio in the 2nd quarter valued at $52,000. Finally, Wealthspire Advisors LLC boosted its stake in Annovis Bio by 100.0% during the 4th quarter. Wealthspire Advisors LLC now owns 20,000 shares of the company’s stock worth $69,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 15.83% of the company’s stock.

Annovis Bio Company Profile

Annovis Bio, Inc (NYSE: ANVS) is a clinical-stage biotechnology company headquartered in Tampa, Florida, focused on the discovery and development of small molecule therapeutics for neurodegenerative and neuroinflammatory disorders. Leveraging a proprietary platform that targets protein trafficking and translational dysregulation, Annovis aims to restore cellular homeostasis by modulating the production and clearance of disease-related proteins. The company’s pipeline is designed to address critical pathways implicated in Alzheimer’s disease, Parkinson’s disease, multiple sclerosis and other central nervous system conditions.

The company’s lead asset, ANVS401 (Posiphen®), is an oral small molecule that has been evaluated in Phase 1 and Phase 2 clinical trials to reduce levels of amyloid precursor protein and its toxic fragments in Alzheimer’s patients.