Brokerages Set Annovis Bio, Inc. (NYSE:ANVS) Price Target at $13.50

Annovis Bio, Inc. (NYSE:ANVS) has been given a consensus recommendation of “Moderate Buy” by the five analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $11.6667.

A number of equities research analysts have issued reports on the stock. Roth Capital began coverage on shares of Annovis Bio in a research note on Tuesday, July 7th. They set a “buy” rating and a $8.00 price objective on the stock. Weiss Ratings upgraded shares of Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 price target on shares of Annovis Bio in a report on Tuesday, April 14th. Finally, Zacks Research upgraded shares of Annovis Bio to a “hold” rating in a research report on Thursday, July 9th.

Annovis Bio Stock Performance

NYSE:ANVS opened at $1.75 on Tuesday. The stock has a fifty day moving average price of $1.95 and a 200-day moving average price of $2.38. The company has a market cap of $60.46 million, a price-to-earnings ratio of -1.02 and a beta of 1.19. Annovis Bio has a fifty-two week low of $1.54 and a fifty-two week high of $5.50.

Annovis Bio (NYSE:ANVS) last released its earnings results on Friday, May 15th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.23). Research analysts predict that Annovis Bio will post -1.58 EPS for the current fiscal year.

Insider Buying and Selling at Annovis Bio

In other Annovis Bio news, Director Michael B. Hoffman purchased 76,344 shares of the stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $1.87 per share, with a total value of $142,763.28. Following the acquisition, the director owned 3,364,883 shares of the company’s stock, valued at approximately $6,292,331.21. This represents a 2.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 20.80% of the company’s stock.

Institutional Trading of Annovis Bio

Several large investors have recently bought and sold shares of the business. RKL Wealth Management LLC acquired a new position in shares of Annovis Bio during the fourth quarter worth $35,000. RFG Advisory LLC bought a new stake in shares of Annovis Bio in the fourth quarter worth $43,000. Wells Fargo & Company MN increased its holdings in Annovis Bio by 46.8% in the fourth quarter. Wells Fargo & Company MN now owns 14,307 shares of the company’s stock valued at $50,000 after purchasing an additional 4,561 shares during the period. JPMorgan Chase & Co. increased its holdings in Annovis Bio by 69.3% in the second quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock valued at $32,000 after purchasing an additional 6,100 shares during the period. Finally, Koshinski Asset Management Inc. bought a new position in Annovis Bio during the 4th quarter worth $52,000. 15.83% of the stock is owned by institutional investors and hedge funds.

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.