Annovis Bio, Inc. (NYSE:ANVS) Receives Consensus Rating of “Hold” from Brokerages

Annovis Bio, Inc. (NYSE:ANVS) has been assigned an average recommendation of “Hold” from the five brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $13.50.

A number of research analysts have issued reports on ANVS shares. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 price target on shares of Annovis Bio in a research report on Tuesday, September 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Annovis Bio in a research report on Monday, December 29th.

Annovis Bio Stock Down 3.3%

Shares of NYSE ANVS opened at $2.80 on Wednesday. The business has a 50 day moving average price of $3.75 and a two-hundred day moving average price of $2.85. The firm has a market cap of $74.07 million, a PE ratio of -1.94 and a beta of 1.46. Annovis Bio has a fifty-two week low of $1.11 and a fifty-two week high of $5.50.

Annovis Bio (NYSE:ANVS) last released its earnings results on Wednesday, November 12th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.01). On average, analysts anticipate that Annovis Bio will post -2.19 earnings per share for the current year.

Insider Transactions at Annovis Bio

In related news, Director Michael B. Hoffman acquired 975,610 shares of the business’s stock in a transaction on Tuesday, October 28th. The shares were purchased at an average price of $2.05 per share, for a total transaction of $2,000,000.50. Following the acquisition, the director owned 2,455,539 shares in the company, valued at approximately $5,033,854.95. This represents a 65.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Maria-Luisa Maccecchini acquired 97,561 shares of Annovis Bio stock in a transaction on Tuesday, October 28th. The shares were purchased at an average cost of $2.05 per share, with a total value of $200,000.05. Following the completion of the purchase, the chief executive officer directly owned 1,212,020 shares of the company’s stock, valued at approximately $2,484,641. This represents a 8.75% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 1,192,371 shares of company stock worth $2,655,537 in the last three months. 20.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Annovis Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ANVS. CWA Asset Management Group LLC grew its position in Annovis Bio by 30.8% during the 4th quarter. CWA Asset Management Group LLC now owns 17,001 shares of the company’s stock worth $59,000 after purchasing an additional 4,000 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Annovis Bio by 69.3% in the second quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock worth $32,000 after buying an additional 6,100 shares during the period. Jane Street Group LLC acquired a new stake in shares of Annovis Bio in the second quarter worth $52,000. Dakota Wealth Management purchased a new position in shares of Annovis Bio during the fourth quarter valued at $91,000. Finally, Geode Capital Management LLC raised its position in Annovis Bio by 20.1% during the second quarter. Geode Capital Management LLC now owns 183,287 shares of the company’s stock valued at $398,000 after buying an additional 30,674 shares during the period. Institutional investors and hedge funds own 15.83% of the company’s stock.

Annovis Bio Company Profile

Annovis Bio, Inc (NYSE: ANVS) is a clinical-stage biotechnology company headquartered in Tampa, Florida, focused on the discovery and development of small molecule therapeutics for neurodegenerative and neuroinflammatory disorders. Leveraging a proprietary platform that targets protein trafficking and translational dysregulation, Annovis aims to restore cellular homeostasis by modulating the production and clearance of disease-related proteins. The company’s pipeline is designed to address critical pathways implicated in Alzheimer’s disease, Parkinson’s disease, multiple sclerosis and other central nervous system conditions.

The company’s lead asset, ANVS401 (Posiphen®), is an oral small molecule that has been evaluated in Phase 1 and Phase 2 clinical trials to reduce levels of amyloid precursor protein and its toxic fragments in Alzheimer’s patients.