Annovis Bio (NYSE:ANVS – Get Free Report) was upgraded by investment analysts at Zacks Research to a “hold” rating in a report issued on Thursday,Zacks.com reports.
A number of other brokerages also recently commented on ANVS. Roth Capital started coverage on Annovis Bio in a research report on Tuesday. They set a “buy” rating and a $8.00 price target for the company. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 target price on shares of Annovis Bio in a research note on Tuesday, April 14th. Finally, Weiss Ratings upgraded shares of Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.
View Our Latest Stock Report on Annovis Bio
Annovis Bio Trading Down 4.5%
Annovis Bio (NYSE:ANVS – Get Free Report) last announced its earnings results on Friday, May 15th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.23). On average, sell-side analysts forecast that Annovis Bio will post -1.58 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Annovis Bio news, Director Michael B. Hoffman bought 76,344 shares of Annovis Bio stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average price of $1.87 per share, for a total transaction of $142,763.28. Following the completion of the purchase, the director directly owned 3,364,883 shares of the company’s stock, valued at approximately $6,292,331.21. This trade represents a 2.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 20.80% of the stock is owned by corporate insiders.
Institutional Trading of Annovis Bio
Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in Annovis Bio by 20.1% in the 2nd quarter. Geode Capital Management LLC now owns 183,287 shares of the company’s stock worth $398,000 after buying an additional 30,674 shares during the period. JPMorgan Chase & Co. raised its holdings in Annovis Bio by 69.3% during the 2nd 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 during the period. Marshall Wace LLP purchased a new stake in shares of Annovis Bio during the second quarter worth $197,000. Jane Street Group LLC bought a new position in shares of Annovis Bio in the second quarter worth $52,000. Finally, Vanguard Group Inc. grew its position in shares of 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. 15.83% of the stock is currently 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.
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