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

Shares of Annovis Bio, Inc. (NYSE:ANVS) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $31.40.

Several equities research analysts have recently commented on the company. Maxim Group upgraded Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Friday, October 25th. D. Boral Capital restated a “hold” rating on shares of Annovis Bio in a report on Monday. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Annovis Bio in a report on Monday, November 11th.

Annovis Bio Price Performance

Shares of ANVS opened at $2.52 on Wednesday. The stock has a 50-day moving average of $4.81 and a 200-day moving average of $7.07. The company has a market cap of $35.81 million, a PE ratio of -0.56 and a beta of 1.63. Annovis Bio has a one year low of $2.44 and a one year high of $20.00.

Institutional Trading of Annovis Bio

Several institutional investors have recently made changes to their positions in the company. Greenwich Wealth Management LLC grew its stake in shares of Annovis Bio by 9.3% in the 3rd quarter. Greenwich Wealth Management LLC now owns 16,475 shares of the company’s stock worth $133,000 after acquiring an additional 1,400 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in Annovis Bio in the 3rd quarter valued at about $31,000. State Street Corp increased its stake in Annovis Bio by 23.7% in the 3rd quarter. State Street Corp now owns 36,035 shares of the company’s stock valued at $290,000 after buying an additional 6,900 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Annovis Bio in the 3rd quarter valued at about $76,000. Finally, Atria Wealth Solutions Inc. bought a new stake in Annovis Bio during the fourth quarter worth $65,000. Institutional investors own 15.83% of the company’s stock.

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.