Annovis Bio (NYSE:ANVS) Upgraded by Wall Street Zen to “Sell” Rating

Wall Street Zen upgraded shares of Annovis Bio (NYSE:ANVS) from a strong sell rating to a sell rating in a research note issued to investors on Sunday,Wall Street Zen reports.

Other equities research analysts have also issued research reports about the company. Roth Capital reduced their target price on Annovis Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 27th. Canaccord Genuity Group reissued a “buy” rating on shares of Annovis Bio in a research report on Tuesday, August 18th. Zacks Research raised Annovis Bio to a “hold” rating in a report on Thursday, July 9th. Finally, Weiss Ratings upgraded Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.00.

Annovis Bio Trading Up 1.2%

Shares of ANVS opened at $1.15 on Friday. Annovis Bio has a 12-month low of $1.04 and a 12-month high of $5.50. The stock has a market cap of $49.25 million, a P/E ratio of -0.64 and a beta of 1.24. The company has a 50-day moving average of $1.64 and a two-hundred day moving average of $1.91.

Annovis Bio (NYSE:ANVS) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.05. As a group, analysts forecast that Annovis Bio will post -1.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Annovis Bio

Institutional investors and hedge funds have recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in Annovis Bio during the second quarter worth about $89,000. Empery Asset Management LP acquired a new stake in Annovis Bio in the 2nd quarter worth about $4,466,745. BlackRock Inc. purchased a new stake in Annovis Bio in the 2nd quarter valued at about $465,000. Bank of New York Mellon Corp purchased a new stake in Annovis Bio in the 2nd quarter valued at about $29,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Annovis Bio during the 2nd quarter valued at about $93,000. Hedge funds and other 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.