Annovis Bio (NYSE:ANVS) Downgraded by Wall Street Zen to “Strong Sell”

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

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

Annovis Bio Trading Up 5.7%

NYSE ANVS opened at $1.39 on Monday. The firm’s fifty day moving average price is $1.58 and its two-hundred day moving average price is $1.86. Annovis Bio has a 1 year low of $1.04 and a 1 year high of $5.50. The firm has a market capitalization of $59.11 million, a P/E ratio of -0.77 and a beta of 1.24.

Annovis Bio (NYSE:ANVS) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.05. On average, research analysts anticipate that Annovis Bio will post -1.32 EPS for the current fiscal year.

Institutional Trading of Annovis Bio

A number of institutional investors have recently bought and sold shares of ANVS. Bank of New York Mellon Corp acquired a new position in Annovis Bio in the 2nd quarter valued at $29,000. Quadcap Wealth Management LLC bought a new position in shares of Annovis Bio in the second quarter worth $30,000. Gill Capital Partners LLC acquired a new position in Annovis Bio in the fourth quarter valued at about $64,000. Headlands Technologies LLC bought a new stake in Annovis Bio during the second quarter worth about $89,000. Finally, GSA Capital Partners LLP bought a new stake in Annovis Bio during the second quarter worth about $93,000. 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.