Annovis Bio (NYSE:ANVS) Releases Earnings Results, Misses Expectations By $0.08 EPS

Annovis Bio (NYSE:ANVS) posted its quarterly earnings data on Friday. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.08), FiscalAI reports.

Annovis Bio Trading Up 2.3%

ANVS stock traded up $0.06 during mid-day trading on Friday, reaching $2.52. The company’s stock had a trading volume of 234,622 shares, compared to its average volume of 423,540. The company’s 50 day moving average is $2.83 and its two-hundred day moving average is $2.83. Annovis Bio has a fifty-two week low of $1.11 and a fifty-two week high of $5.50. The stock has a market cap of $66.67 million, a PE ratio of -1.75 and a beta of 1.32.

Institutional Investors Weigh In On Annovis Bio

A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in shares of Annovis Bio by 69.3% during the second quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock valued at $32,000 after acquiring an additional 6,100 shares during the last quarter. RKL Wealth Management LLC acquired a new position in shares of Annovis Bio in the 4th quarter worth approximately $35,000. Wells Fargo & Company MN lifted its holdings in shares of Annovis Bio by 46.8% in the 4th quarter. Wells Fargo & Company MN now owns 14,307 shares of the company’s stock worth $50,000 after acquiring an additional 4,561 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Annovis Bio during the 2nd quarter worth approximately $52,000. Finally, Wealthspire Advisors LLC increased its holdings in Annovis Bio by 100.0% in the 4th quarter. Wealthspire Advisors LLC now owns 20,000 shares of the company’s stock valued at $69,000 after purchasing an additional 10,000 shares during the last quarter. 15.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Annovis Bio in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.50.

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.