Annovis Bio (NYSE:ANVS) Posts Earnings Results, Beats Expectations By $0.08 EPS

Annovis Bio (NYSE:ANVS) released its quarterly earnings data on Friday. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.08, Zacks reports.

Annovis Bio Price Performance

ANVS stock traded up $0.09 during mid-day trading on Friday, hitting $0.94. 1,353,753 shares of the stock were exchanged, compared to its average volume of 1,082,357. The business has a fifty day moving average price of $1.11 and a 200 day moving average price of $1.83. Annovis Bio has a 12 month low of $0.62 and a 12 month high of $5.50. The stock has a market capitalization of $40.44 million, a price-to-earnings ratio of -0.53 and a beta of 1.36.

Analysts Set New Price Targets

Several research analysts have commented on ANVS shares. Canaccord Genuity Group restated a “buy” rating on shares of Annovis Bio in a research note on Tuesday, August 18th. Weiss Ratings downgraded shares of Annovis Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Wall Street Zen lowered shares of Annovis Bio from a “sell” rating to a “strong sell” rating in a research report on Monday, September 28th. Finally, Roth Capital reduced their price objective on shares of Annovis Bio from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 27th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Annovis Bio currently has an average rating of “Hold” and a consensus target price of $12.00.

Insiders Place Their Bets

In other news, Director Michael Hoffman bought 5,000,000 shares of the business’s stock in a transaction on Friday, November 6th. The stock was acquired at an average price of $1.00 per share, with a total value of $5,000,000.00. Following the completion of the purchase, the director directly owned 8,364,883 shares in the company, valued at $8,364,883. This represents a 148.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 15.92% of the stock is owned by insiders.

Annovis Bio Company Profile

Annovis Bio, Inc. is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative diseases, including Alzheimer’s disease and Parkinson’s disease. The company’s research centers on therapies designed to address mechanisms associated with neurodegeneration rather than treating only individual symptoms. Annovis Bio’s lead product candidate is buntanetap, formerly known as ANVS401. Buntanetap is an orally administered small molecule being investigated for its potential to reduce the production of multiple neurotoxic proteins linked to neurodegenerative disorders.