Annovis Bio (NYSE:ANVS) Given New $26.00 Price Target at Canaccord Genuity Group

Annovis Bio (NYSE:ANVS) had its price objective decreased by equities researchers at Canaccord Genuity Group from $36.00 to $26.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 256.65% from the stock’s previous close.

Several other research analysts have also recently commented on ANVS. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Annovis Bio in a report on Tuesday, April 2nd. Brookline Capital Management cut shares of Annovis Bio from a “buy” rating to a “hold” rating and set a $9.00 price target for the company. in a report on Wednesday, February 28th.

Annovis Bio Price Performance

Shares of ANVS opened at $7.29 on Tuesday. Annovis Bio has a one year low of $5.23 and a one year high of $22.49. The company has a 50-day moving average of $10.58 and a two-hundred day moving average of $10.30. The stock has a market cap of $80.26 million, a price-to-earnings ratio of -1.17 and a beta of 1.59.

Annovis Bio (NYSE:ANVS) last announced its earnings results on Friday, March 29th. The company reported ($1.09) EPS for the quarter. Analysts anticipate that Annovis Bio will post -3.35 earnings per share for the current year.

Institutional Trading of Annovis Bio

Institutional investors have recently made changes to their positions in the stock. Private Trust Co. NA acquired a new stake in Annovis Bio in the fourth quarter valued at approximately $56,000. Greenwich Wealth Management LLC acquired a new stake in Annovis Bio in the fourth quarter valued at approximately $192,000. Wealthspire Advisors LLC lifted its stake in Annovis Bio by 9.9% in the fourth quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock valued at $206,000 after acquiring an additional 990 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of Annovis Bio in the third quarter valued at approximately $2,847,000. 15.83% of the stock is currently owned by institutional investors and hedge funds.

Annovis Bio Company Profile

Annovis Bio, Inc, a clinical stage drug platform company, develops drugs to treat neurodegeneration. The company's lead product candidate is Buntanetap, which is in Phase 3 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.