Wall Street Zen Upgrades Annovis Bio (NYSE:ANVS) to “Sell”

Annovis Bio (NYSE:ANVS) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.

ANVS has been the subject of several other reports. Roth Capital reduced their price objective on Annovis Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday. Weiss Ratings raised Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Canaccord Genuity Group restated a “buy” rating on shares of Annovis Bio in a research note on Tuesday, August 18th. Finally, Zacks Research raised Annovis Bio to a “hold” rating in a research report on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.33.

Annovis Bio Price Performance

Shares of ANVS stock opened at $1.72 on Friday. The company has a market capitalization of $73.29 million, a price-to-earnings ratio of -0.96 and a beta of 1.25. Annovis Bio has a 12-month low of $1.54 and a 12-month high of $5.50. The firm has a fifty day moving average of $1.80 and a 200-day moving average of $2.04.

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

Institutional Trading of Annovis Bio

Several institutional investors and hedge funds have recently bought and sold shares of ANVS. Empery Asset Management LP acquired a new position in Annovis Bio during the second quarter valued at approximately $4,466,745. Vanguard Group Inc. grew its stake in Annovis Bio by 5.9% in the third quarter. Vanguard Group Inc. now owns 738,003 shares of the company’s stock valued at $1,528,000 after purchasing an additional 41,239 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Annovis Bio during the 4th quarter worth approximately $2,511,000. Renaissance Technologies LLC acquired a new position in shares of Annovis Bio during the 1st quarter worth approximately $775,000. Finally, BlackRock Inc. bought a new stake in shares of Annovis Bio during the 2nd quarter worth approximately $465,000. Institutional investors own 15.83% of the company’s stock.

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.