Annovis Bio’s (ANVS) Buy Rating Reiterated at Rodman & Renshaw

Rodman & Renshaw restated their buy rating on shares of Annovis Bio (NYSE:ANVS) in a report issued on Tuesday, Benzinga reports. Rodman & Renshaw currently has a $67.00 price target on the stock.

Several other research firms have also recently issued reports on ANVS. HC Wainwright reaffirmed a buy rating and set a $23.00 price target on shares of Annovis Bio in a research note on Wednesday, June 12th. Canaccord Genuity Group cut their price objective on shares of Annovis Bio from $36.00 to $26.00 and set a buy rating on the stock in a report on Tuesday, April 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $32.20.

Annovis Bio Price Performance

Annovis Bio stock opened at $8.08 on Tuesday. Annovis Bio has a 12-month low of $4.53 and a 12-month high of $22.49. The stock has a market capitalization of $90.25 million, a P/E ratio of -1.41 and a beta of 1.74. The firm’s 50-day moving average is $6.79 and its two-hundred day moving average is $9.87.

Annovis Bio (NYSE:ANVS) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.15. As a group, analysts forecast that Annovis Bio will post -2.46 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ANVS. Adage Capital Partners GP L.L.C. purchased a new position in Annovis Bio in the third quarter valued at approximately $2,847,000. Private Trust Co. NA purchased a new position in Annovis Bio in the fourth quarter valued at approximately $56,000. Greenwich Wealth Management LLC purchased a new position in Annovis Bio in the fourth quarter valued at approximately $192,000. Wealthspire Advisors LLC raised its holdings in Annovis Bio by 9.9% in the fourth quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock valued at $206,000 after buying an additional 990 shares during the period. Finally, Redmond Asset Management LLC raised its holdings in Annovis Bio by 6.1% in the first quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock valued at $430,000 after buying an additional 2,077 shares during the period. Hedge funds and other institutional investors 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 has completed three Phase 1/2 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.