Annovis Bio (NYSE:ANVS) Earns “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Annovis Bio (NYSE:ANVS) in a research note issued to investors on Wednesday, Benzinga reports. HC Wainwright currently has a $23.00 target price on the stock.

Several other equities research analysts have also recently commented on the company. Brookline Capital Management cut Annovis Bio from a buy rating to a hold rating and set a $9.00 target price on the stock. in a report on Wednesday, February 28th. Rodman & Renshaw began coverage on Annovis Bio in a research note on Tuesday, June 4th. They issued a buy rating and a $67.00 price objective on the stock. Finally, Canaccord Genuity Group decreased their target price on Annovis Bio from $36.00 to $26.00 and set a buy rating for the company in a research note on Tuesday, April 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Annovis Bio has an average rating of Moderate Buy and a consensus target price of $32.20.

Annovis Bio Stock Performance

NYSE:ANVS opened at $5.85 on Wednesday. The stock has a market cap of $65.35 million, a price-to-earnings ratio of -1.02 and a beta of 1.78. Annovis Bio has a 1 year low of $4.79 and a 1 year high of $22.49. The business has a fifty day moving average of $8.20 and a 200-day moving average of $10.19.

Annovis Bio (NYSE:ANVS) last announced its earnings results on Monday, May 13th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.15. On average, equities research analysts predict that Annovis Bio will post -2.46 EPS for the current year.

Institutional Trading of Annovis Bio

Several large investors have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. bought a new position in Annovis Bio during the third quarter valued at about $2,847,000. Vanguard Group Inc. lifted its stake in shares of Annovis Bio by 6.1% in the first quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock worth $4,260,000 after buying an additional 20,588 shares during the last quarter. Greenwich Wealth Management LLC bought a new stake in shares of Annovis Bio during the 4th quarter worth $192,000. Cetera Advisors LLC acquired a new position in Annovis Bio in the 1st quarter valued at $122,000. Finally, Private Trust Co. NA bought a new position in Annovis Bio in the 4th quarter worth $56,000. 15.83% of the stock is owned by institutional investors.

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 has completed three Phase 1/2 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.