Annovis Bio (NYSE:ANVS) Given New $26.00 Price Target at Canaccord Genuity Group

Annovis Bio (NYSE:ANVS) had its price objective dropped by stock analysts at Canaccord Genuity Group from $36.00 to $26.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 256.65% from the company’s previous close.

ANVS has been the subject of a number of other research reports. Brookline Capital Management downgraded shares of Annovis Bio from a “buy” rating to a “hold” rating and set a $9.00 price objective for the company. in a research report on Wednesday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Annovis Bio in a research report on Tuesday, April 2nd.

Annovis Bio Price Performance

NYSE ANVS opened at $7.29 on Tuesday. The company has a fifty day moving average of $10.58 and a 200 day moving average of $10.30. The company has a market capitalization of $80.26 million, a PE ratio of -1.17 and a beta of 1.59. Annovis Bio has a 1 year low of $5.23 and a 1 year high of $22.49.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings data on Friday, March 29th. The company reported ($1.09) earnings per share for the quarter. Research analysts expect that Annovis Bio will post -3.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ANVS. Private Trust Co. NA purchased a new stake in Annovis Bio during the 4th quarter valued at about $56,000. Greenwich Wealth Management LLC purchased a new stake in shares of Annovis Bio in the 4th quarter valued at approximately $192,000. Wealthspire Advisors LLC boosted its position in shares of Annovis Bio by 9.9% during the 4th quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock worth $206,000 after purchasing an additional 990 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Annovis Bio during the 3rd quarter worth approximately $2,847,000. Institutional investors and hedge funds own 15.83% of the company’s stock.

About Annovis Bio

Annovis Bio, Inc, a clinical stage drug platform company, develops drugs to treat neurodegeneration. The company's lead product candidate is Buntanetap, which is in Phase 3 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.