Annovis Bio, Inc. (NYSE:ANVS) Given Average Rating of “Moderate Buy” by Analysts

Annovis Bio, Inc. (NYSE:ANVS) has been given an average recommendation of “Moderate Buy” by the seven research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $31.40.

A number of research firms have issued reports on ANVS. D. Boral Capital reissued a “hold” rating on shares of Annovis Bio in a research report on Monday. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Annovis Bio in a research note on Monday, November 11th. Finally, Maxim Group upgraded Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Friday, October 25th.

Institutional Investors Weigh In On Annovis Bio

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Merit Financial Group LLC grew its stake in Annovis Bio by 269.0% during the fourth quarter. Merit Financial Group LLC now owns 98,516 shares of the company’s stock valued at $496,000 after acquiring an additional 71,816 shares in the last quarter. State Street Corp grew its position in shares of Annovis Bio by 23.7% during the 3rd quarter. State Street Corp now owns 36,035 shares of the company’s stock valued at $290,000 after purchasing an additional 6,900 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Annovis Bio in the third quarter worth $31,000. Geode Capital Management LLC raised its position in shares of Annovis Bio by 30.0% in the third quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock worth $799,000 after buying an additional 22,881 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Annovis Bio during the third quarter valued at $371,000. 15.83% of the stock is currently owned by institutional investors.

Annovis Bio Stock Down 8.2 %

Annovis Bio stock opened at $2.52 on Wednesday. Annovis Bio has a twelve month low of $2.44 and a twelve month high of $20.00. The firm has a 50 day moving average price of $4.81 and a 200-day moving average price of $7.07. The company has a market capitalization of $35.81 million, a P/E ratio of -0.56 and a beta of 1.63.

Annovis Bio Company Profile

Annovis Bio, Inc, a clinical stage drug platform company, develops drugs to treat neurodegeneration. The company's lead product candidate is Buntanetap, which has completed three Phase 1/2 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.