Wall Street Zen upgraded shares of Annovis Bio (NYSE:ANVS – Free Report) from a strong sell rating to a sell rating in a research note released on Sunday morning,Wall Street Zen reports.
Several other research firms have also recently weighed in on ANVS. Roth Capital decreased their price objective on shares of Annovis Bio from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 27th. Canaccord Genuity Group restated a “buy” rating on shares of Annovis Bio in a report on Tuesday, August 18th. Zacks Research raised shares of Annovis Bio to a “hold” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings upgraded shares of Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.00.
Read Our Latest Report on ANVS
Annovis Bio Stock Up 6.3%
Annovis Bio (NYSE:ANVS – Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. As a group, equities analysts expect that Annovis Bio will post -1.32 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in shares of Annovis Bio in the second quarter valued at about $89,000. Empery Asset Management LP purchased a new stake in shares of Annovis Bio during the second quarter worth about $4,466,745. BlackRock Inc. purchased a new stake in shares of Annovis Bio during the second quarter worth about $465,000. Bank of New York Mellon Corp bought a new stake in Annovis Bio during the 2nd quarter valued at approximately $29,000. Finally, GSA Capital Partners LLP bought a new stake in Annovis Bio during the 2nd quarter valued at approximately $93,000. Institutional investors own 15.83% of the company’s stock.
About Annovis Bio
Annovis Bio, Inc (NYSE: ANVS) is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative diseases, including Alzheimer’s disease and Parkinson’s disease. The company is headquartered in Berwyn, Pennsylvania, and its research centers on therapies intended to address mechanisms associated with the accumulation of toxic proteins in the brain.
Annovis Bio’s lead investigational product is buntanetap, formerly known as ANVS401. The orally administered small-molecule drug is designed to inhibit the production of multiple neurotoxic proteins implicated in neurodegenerative disorders.
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