Annovis Bio, Inc. (NYSE:ANVS) Given Consensus Rating of “Hold” by Analysts

Annovis Bio, Inc. (NYSE:ANVS) has received a consensus rating of “Hold” from the five analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $13.50.

A number of research analysts recently commented on ANVS shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Annovis Bio in a research note on Monday, November 24th. Zacks Research upgraded Annovis Bio to a “hold” rating in a report on Friday, August 8th. HC Wainwright reduced their price objective on Annovis Bio from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, September 3rd. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $17.00 target price on shares of Annovis Bio in a research report on Tuesday, September 30th.

Annovis Bio Trading Down 11.8%

Shares of ANVS opened at $4.50 on Tuesday. Annovis Bio has a 12-month low of $1.11 and a 12-month high of $7.39. The company has a market cap of $119.25 million, a PE ratio of -3.12 and a beta of 1.48. The stock has a 50-day moving average price of $2.54 and a 200-day moving average price of $2.53.

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

Insider Activity at Annovis Bio

In other Annovis Bio news, CEO Maria-Luisa Maccecchini bought 97,561 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The shares were bought at an average price of $2.05 per share, for a total transaction of $200,000.05. Following the transaction, the chief executive officer directly owned 1,212,020 shares in the company, valued at $2,484,641. This trade represents a 8.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael B. Hoffman purchased 975,610 shares of the stock in a transaction on Tuesday, October 28th. The stock was acquired at an average cost of $2.05 per share, with a total value of $2,000,000.50. Following the completion of the purchase, the director directly owned 2,455,539 shares of the company’s stock, valued at $5,033,854.95. The trade was a 65.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 1,147,371 shares of company stock worth $2,461,587 over the last three months. Insiders own 20.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings 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 bought a new position in Annovis Bio during the 2nd quarter worth approximately $52,000. Warberg Asset Management LLC purchased a new position in Annovis Bio in the 1st quarter worth approximately $58,000. Marshall Wace LLP bought a new stake in Annovis Bio in the second quarter valued at approximately $197,000. Finally, Geode Capital Management LLC lifted its position in Annovis Bio by 20.1% in the second quarter. Geode Capital Management LLC now owns 183,287 shares of the company’s stock valued at $398,000 after purchasing an additional 30,674 shares during the last quarter. 15.83% of the stock is owned by institutional investors.

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.