Annovis Bio, Inc. (NYSE:ANVS) Receives $37.00 Average Target Price from Analysts

Shares of Annovis Bio, Inc. (NYSE:ANVS) have received an average rating of “Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $37.00.

Separately, D. Boral Capital reaffirmed a “hold” rating on shares of Annovis Bio in a report on Monday, February 10th.

Annovis Bio Stock Down 9.4 %

NYSE ANVS opened at $1.50 on Thursday. The firm has a market cap of $21.28 million, a P/E ratio of -0.34 and a beta of 1.65. Annovis Bio has a 52-week low of $1.43 and a 52-week high of $20.00. The business’s 50-day moving average price is $2.62 and its 200 day moving average price is $5.45.

Annovis Bio (NYSE:ANVS) last posted its quarterly earnings data on Friday, March 21st. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). During the same period in the prior year, the business earned ($0.43) earnings per share. As a group, analysts anticipate that Annovis Bio will post -2.19 earnings per share for the current year.

Hedge Funds Weigh In On Annovis Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANVS. State Street Corp increased its holdings in shares of Annovis Bio by 23.7% in the 3rd quarter. State Street Corp now owns 36,035 shares of the company’s stock valued at $290,000 after purchasing an additional 6,900 shares in the last quarter. Geode Capital Management LLC grew its position in Annovis Bio by 30.0% during the third quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock worth $799,000 after buying an additional 22,881 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Annovis Bio in the third quarter valued at about $76,000. JPMorgan Chase & Co. acquired a new stake in shares of Annovis Bio during the 3rd quarter valued at approximately $31,000. Finally, Merit Financial Group LLC boosted its stake in shares of Annovis Bio by 269.0% during the 4th quarter. Merit Financial Group LLC now owns 98,516 shares of the company’s stock worth $496,000 after acquiring an additional 71,816 shares in the last quarter. Institutional investors and hedge funds own 15.83% of the company’s stock.

About Annovis Bio

Annovis Bio, Inc, a clinical stage drug platform company, develops drugs to treat neurodegeneration. The company's lead product candidate is Buntanetap, which has completed three Phase 1/2 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.