Annovis Bio, Inc. (NYSE:ANVS) Receives $13.50 Average PT from Brokerages

Shares of Annovis Bio, Inc. (NYSE:ANVS) have received an average recommendation of “Hold” from the five research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $13.50.

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Annovis Bio in a research report on Monday, December 29th. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 price target on shares of Annovis Bio in a research note on Tuesday, September 30th.

Insider Activity

In other Annovis Bio news, CEO Maria-Luisa Maccecchini bought 97,561 shares of Annovis Bio 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 $200,000.05. Following the completion of the acquisition, the chief executive officer owned 1,212,020 shares in the company, valued at approximately $2,484,641. This represents a 8.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael B. Hoffman purchased 45,000 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were acquired at an average price of $4.31 per share, for a total transaction of $193,950.00. Following the purchase, the director directly owned 2,574,739 shares in the company, valued at approximately $11,097,125.09. The trade was a 1.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 1,192,371 shares of company stock valued at $2,655,537 in the last ninety days. Insiders own 20.80% of the company’s stock.

Hedge Funds Weigh In On Annovis Bio

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Annovis Bio by 69.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock valued at $32,000 after buying an additional 6,100 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Annovis Bio in the second quarter valued at about $52,000. CWA Asset Management Group LLC boosted its stake in shares of Annovis Bio by 30.8% in the fourth quarter. CWA Asset Management Group LLC now owns 17,001 shares of the company’s stock worth $59,000 after acquiring an additional 4,000 shares during the period. Dakota Wealth Management bought a new position in shares of Annovis Bio in the fourth quarter worth about $91,000. Finally, Marshall Wace LLP purchased a new stake in shares of Annovis Bio during the second quarter worth about $197,000. Hedge funds and other institutional investors own 15.83% of the company’s stock.

Annovis Bio Price Performance

Shares of NYSE:ANVS opened at $3.02 on Wednesday. Annovis Bio has a 1 year low of $1.11 and a 1 year high of $5.50. The company has a market cap of $80.03 million, a P/E ratio of -2.10 and a beta of 1.46. The stock’s fifty day moving average price is $3.79 and its 200-day moving average price is $2.86.

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

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.