Annovis Bio, Inc. (NYSE:ANVS) Receives Average Rating of “Hold” from Brokerages

Shares of Annovis Bio, Inc. (NYSE:ANVS) have been assigned an average rating of “Hold” from the five research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $13.50.

A number of research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 price target on shares of Annovis Bio in a research note on Tuesday, April 14th. Finally, Roth Capital assumed coverage on shares of Annovis Bio in a research report on Tuesday. They set a “buy” rating on the stock.

Insiders Place Their Bets

In other Annovis Bio news, Director Michael B. Hoffman purchased 76,344 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $1.87 per share, for a total transaction of $142,763.28. Following the purchase, the director owned 3,364,883 shares of the company’s stock, valued at $6,292,331.21. This trade represents a 2.32% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 20.80% of the company’s stock.

Hedge Funds Weigh In On Annovis Bio

A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in Annovis Bio by 69.3% during the second quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock worth $32,000 after buying an additional 6,100 shares in the last quarter. RKL Wealth Management LLC purchased a new stake in shares of Annovis Bio in the fourth quarter valued at about $35,000. RFG Advisory LLC purchased a new stake in shares of Annovis Bio in the fourth quarter valued at about $43,000. Wells Fargo & Company MN lifted its position in shares of Annovis Bio by 46.8% during the fourth quarter. Wells Fargo & Company MN now owns 14,307 shares of the company’s stock valued at $50,000 after purchasing an additional 4,561 shares in the last quarter. Finally, Koshinski Asset Management Inc. bought a new position in shares of Annovis Bio during the fourth quarter valued at about $52,000. Institutional investors and hedge funds own 15.83% of the company’s stock.

Annovis Bio Stock Down 1.3%

Annovis Bio stock traded down $0.03 during trading hours on Tuesday, reaching $1.95. 1,597,403 shares of the company’s stock were exchanged, compared to its average volume of 841,464. The firm’s 50 day simple moving average is $1.95 and its 200 day simple moving average is $2.44. Annovis Bio has a twelve month low of $1.54 and a twelve month high of $5.50. The firm has a market capitalization of $67.39 million, a PE ratio of -1.14 and a beta of 1.19.

Annovis Bio (NYSE:ANVS) last announced its earnings results on Friday, May 15th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.23).

About Annovis Bio

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.