Annovis Bio, Inc. (NYSE:ANVS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Annovis Bio, Inc. (NYSE:ANVS) have been given a consensus rating of “Moderate Buy” by the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $11.6667.

A number of research analysts have weighed in on the stock. 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. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 price target on shares of Annovis Bio in a report on Tuesday, April 14th. Zacks Research upgraded Annovis Bio to a “hold” rating in a research note on Thursday, July 9th. Finally, Roth Capital initiated coverage on Annovis Bio in a report on Tuesday, July 7th. They set a “buy” rating and a $8.00 price objective for the company.

Insider Activity

In other news, Director Michael B. Hoffman purchased 76,344 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $1.87 per share, with a total value of $142,763.28. Following the transaction, the director directly owned 3,364,883 shares of the company’s stock, valued at approximately $6,292,331.21. This represents a 2.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 20.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Annovis Bio

Several large investors have recently added to or reduced their stakes in ANVS. RKL Wealth Management LLC bought a new stake in Annovis Bio in the 4th quarter valued at about $35,000. RFG Advisory LLC purchased a new stake in Annovis Bio during the fourth quarter valued at about $43,000. Wells Fargo & Company MN boosted its position in Annovis Bio by 46.8% during the fourth quarter. Wells Fargo & Company MN now owns 14,307 shares of the company’s stock worth $50,000 after purchasing an additional 4,561 shares during the period. JPMorgan Chase & Co. boosted its position 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 purchasing an additional 6,100 shares during the period. Finally, Koshinski Asset Management Inc. purchased a new position in shares of Annovis Bio in the fourth quarter worth about $52,000. Hedge funds and other institutional investors own 15.83% of the company’s stock.

Annovis Bio Stock Performance

Shares of NYSE:ANVS opened at $1.75 on Friday. The company has a market capitalization of $60.81 million, a P/E ratio of -1.03 and a beta of 1.19. The company’s 50-day moving average is $1.82 and its 200 day moving average is $2.20. Annovis Bio has a fifty-two week low of $1.54 and a fifty-two week high of $5.50.

Annovis Bio (NYSE:ANVS) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.23). As a group, research analysts predict that Annovis Bio will post -1.58 earnings per share for the current year.

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.