Annovis Bio, Inc. (NYSE:ANVS) Receives $11.67 Average Price Target from Brokerages

Annovis Bio, Inc. (NYSE:ANVSGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $11.6667.

ANVS has been the topic of a number of analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Annovis Bio in a report on Tuesday, April 14th. Roth Capital assumed coverage on Annovis Bio in a research note on Tuesday, July 7th. They set a “buy” rating and a $8.00 target price for the company. Zacks Research raised Annovis Bio to a “hold” rating in a report on Thursday, July 9th. Finally, Weiss Ratings raised shares of Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th.

Get Our Latest Research Report on ANVS

Annovis Bio Stock Performance

ANVS stock opened at $1.86 on Friday. The stock has a market capitalization of $64.62 million, a PE ratio of -1.09 and a beta of 1.25. The company has a fifty day moving average of $1.80 and a 200-day moving average of $2.15. Annovis Bio has a one year low of $1.54 and a one year high of $5.50.

Annovis Bio (NYSE:ANVSGet Free Report) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.23). Equities analysts forecast that Annovis Bio will post -1.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Annovis Bio

In related news, Director Michael B. Hoffman acquired 76,344 shares of Annovis Bio stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $1.87 per share, for a total transaction of $142,763.28. Following the completion of the transaction, the director directly owned 3,364,883 shares of the company’s stock, valued at $6,292,331.21. The trade was a 2.32% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 20.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ANVS. Bank of New York Mellon Corp purchased a new position in shares of Annovis Bio during the 2nd quarter worth $29,000. GSA Capital Partners LLP purchased a new stake in shares of Annovis Bio in the second quarter valued at $93,000. Quadcap Wealth Management LLC acquired a new position in Annovis Bio in the second quarter valued at $30,000. First National Trust Co increased its stake in Annovis Bio by 50.0% in the second quarter. First National Trust Co now owns 60,000 shares of the company’s stock valued at $112,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Annovis Bio during the first quarter worth about $775,000. Institutional investors and hedge funds own 15.83% of the company’s stock.

About Annovis Bio

(Get Free Report)

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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Analyst Recommendations for Annovis Bio (NYSE:ANVS)

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