Analysts Set Annovis Bio, Inc. (NYSE:ANVS) Target Price at $17.33

Annovis Bio, Inc. (NYSE:ANVS) has been given an average recommendation of “Hold” by the six research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $17.3333.

Several research firms have recently issued reports on ANVS. HC Wainwright lowered their price objective on Annovis Bio from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, September 3rd. Zacks Research raised Annovis Bio to a “hold” rating in a research note on Friday, August 8th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Annovis Bio in a research note on Tuesday, September 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annovis Bio in a research note on Wednesday, October 8th.

Annovis Bio Trading Up 8.0%

Shares of NYSE ANVS opened at $1.82 on Monday. The company has a market cap of $35.37 million, a price-to-earnings ratio of -0.89 and a beta of 1.63. Annovis Bio has a 12 month low of $1.11 and a 12 month high of $10.54. The stock has a 50-day moving average price of $2.31 and a two-hundred day moving average price of $2.21.

Annovis Bio (NYSE:ANVS) last issued its earnings results on Tuesday, August 12th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.04. On average, sell-side analysts predict that Annovis Bio will post -2.19 earnings per share for the current year.

Institutional Trading of Annovis Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position 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 purchasing an additional 6,100 shares during the period. Lokken Investment Group LLC increased its position in Annovis Bio by 60.3% during the 1st quarter. Lokken Investment Group LLC now owns 29,235 shares of the company’s stock valued at $44,000 after purchasing an additional 11,000 shares during the period. Jane Street Group LLC acquired a new stake in Annovis Bio during the 2nd quarter valued at approximately $52,000. Warberg Asset Management LLC acquired a new stake in Annovis Bio during the 1st quarter valued at approximately $58,000. Finally, Marshall Wace LLP acquired a new stake in Annovis Bio during the 2nd quarter valued at approximately $197,000. Institutional investors and hedge funds own 15.83% of the company’s stock.

Annovis Bio Company Profile

Annovis Bio, Inc, a clinical stage drug platform company, develops drugs to treat neurodegeneration. The company's lead product candidate is Buntanetap, which has completed three Phase 1/2 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.