Annovis Bio, Inc. (NYSE:ANVS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Annovis Bio, Inc. (NYSE:ANVS) have been given an average rating of “Moderate Buy” by the five ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $11.6667.

ANVS has been the subject of a number of research analyst reports. Canaccord Genuity Group restated a “buy” rating on shares of Annovis Bio in a research report on Tuesday, August 18th. Zacks Research raised Annovis Bio to a “hold” rating in a research note on Thursday, July 9th. Weiss Ratings upgraded Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Finally, Roth Capital started coverage on Annovis Bio in a research note on Tuesday, July 7th. They issued a “buy” rating and a $8.00 price objective on the stock.

Annovis Bio Stock Performance

ANVS opened at $1.81 on Wednesday. The stock has a market capitalization of $77.34 million, a price-to-earnings ratio of -1.01 and a beta of 1.25. The company has a fifty day moving average of $1.80 and a 200 day moving average of $2.06. Annovis Bio has a fifty-two week low of $1.54 and a fifty-two week high of $5.50.

Annovis Bio (NYSE:ANVS) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.05. On average, equities research analysts forecast that Annovis Bio will post -1.58 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Empery Asset Management LP bought a new position in Annovis Bio during the second quarter valued at $4,466,745,000. Renaissance Technologies LLC purchased a new stake in shares of Annovis Bio during the 1st quarter valued at about $775,000. BlackRock Inc. purchased a new stake in shares of Annovis Bio during the 2nd quarter valued at about $465,000. GSA Capital Partners LLP bought a new position in shares of Annovis Bio in the 2nd quarter valued at about $93,000. Finally, Quadcap Wealth Management LLC bought a new position in shares of Annovis Bio in the 2nd quarter valued at about $30,000. 15.83% of the stock is owned by hedge funds and other institutional investors.

About Annovis Bio

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.