Annovis Bio (NYSE:ANVS) Stock Rating Upgraded by Roth Capital

Annovis Bio (NYSE:ANVS) was upgraded by Roth Capital to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on ANVS. Weiss Ratings raised Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Canaccord Genuity Group restated a “buy” rating and set a $17.00 price target on shares of Annovis Bio in a report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $11.67.

Annovis Bio Stock Up 2.3%

Annovis Bio stock opened at $1.97 on Tuesday. Annovis Bio has a 52-week low of $1.54 and a 52-week high of $5.50. The firm’s fifty day moving average is $1.95 and its 200 day moving average is $2.42. The company has a market cap of $68.09 million, a price-to-earnings ratio of -1.15 and a beta of 1.19.

Annovis Bio (NYSE:ANVS) last posted its earnings results on Friday, May 15th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.23).

Insider Buying and Selling at Annovis Bio

In other Annovis Bio news, Director Michael B. Hoffman purchased 76,344 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $1.87 per share, with a total value of $142,763.28. Following the purchase, the director owned 3,364,883 shares of the company’s stock, valued at approximately $6,292,331.21. The trade was a 2.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 20.80% of the company’s stock.

Institutional Trading of Annovis Bio

Several institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in Annovis Bio by 69.3% in the 2nd 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. RKL Wealth Management LLC purchased a new stake in Annovis Bio in the 4th quarter valued at about $35,000. RFG Advisory LLC bought a new position in Annovis Bio in the 4th quarter worth about $43,000. Wells Fargo & Company MN increased its position in shares of Annovis Bio by 46.8% during the fourth 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 period. Finally, Koshinski Asset Management Inc. purchased a new position in shares of Annovis Bio during the fourth quarter worth approximately $52,000. 15.83% of the stock is currently owned by institutional investors.

About Annovis Bio

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.