Annovis Bio (NYSE:ANVS) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Annovis Bio (NYSE:ANVS) from a sell rating to a strong sell rating in a research report sent to investors on Monday morning,Wall Street Zen reports.

A number of other research analysts also recently issued reports on the stock. Zacks Research upgraded shares of Annovis Bio to a “hold” rating in a research report on Thursday, July 9th. Weiss Ratings raised Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. Roth Capital reduced 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. Finally, Canaccord Genuity Group reiterated a “buy” rating on shares of Annovis Bio in a report on Tuesday, August 18th. Two 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.00.

Annovis Bio Trading Down 1.2%

ANVS stock opened at $1.28 on Monday. The stock has a market capitalization of $54.84 million, a P/E ratio of -0.72 and a beta of 1.24. The firm has a 50-day moving average price of $1.57 and a 200-day moving average price of $1.84. Annovis Bio has a 12 month low of $1.04 and a 12 month high of $5.50.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings data 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. As a group, equities analysts predict that Annovis Bio will post -1.32 EPS for the current fiscal year.

Institutional Trading of Annovis Bio

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new stake in Annovis Bio during the 2nd quarter worth about $29,000. Quadcap Wealth Management LLC bought a new stake in Annovis Bio during the second quarter valued at approximately $30,000. Gill Capital Partners LLC bought a new stake in shares of Annovis Bio during the 4th quarter worth $64,000. First National Trust Co boosted its holdings in shares of Annovis Bio by 50.0% in the 2nd quarter. First National Trust Co now owns 60,000 shares of the company’s stock worth $112,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Annovis Bio in the second quarter worth approximately $89,000. 15.83% of the stock is currently owned by hedge funds and other institutional investors.

Annovis Bio Company Profile

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.