Annovis Bio (NYSE:ANVS) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of Annovis Bio (NYSE:ANVS) from a sell rating to a strong sell rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other research analysts also recently commented on ANVS. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Annovis Bio in a research note on Tuesday, August 18th. Zacks Research raised Annovis Bio to a “hold” rating in a research report on Thursday, July 9th. Roth Capital cut their price objective on Annovis Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 27th. Finally, Weiss Ratings raised shares of Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.00.

Annovis Bio Price Performance

Shares of ANVS stock opened at $1.15 on Friday. Annovis Bio has a 1 year low of $1.09 and a 1 year high of $5.50. The firm has a fifty day moving average price of $1.70 and a 200-day moving average price of $1.96. The company has a market cap of $48.79 million, a price-to-earnings ratio of -0.64 and a beta of 1.24.

Annovis Bio (NYSE:ANVS) last announced its earnings results on Friday, August 14th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.05. Equities research analysts expect that Annovis Bio will post -1.32 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new stake in Annovis Bio during the 2nd quarter valued at approximately $89,000. Empery Asset Management LP bought a new stake in shares of Annovis Bio during the second quarter valued at approximately $4,466,745. BlackRock Inc. purchased a new position in shares of Annovis Bio in the second quarter worth $465,000. Bank of New York Mellon Corp purchased a new position in shares of Annovis Bio in the second quarter worth $29,000. Finally, GSA Capital Partners LLP bought a new position in shares of Annovis Bio during the second quarter worth $93,000. 15.83% of the stock is owned by hedge funds and other 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.