Annovis Bio, Inc. (NYSE:ANVS) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Annovis Bio, Inc. (NYSE:ANVS) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $13.50.

ANVS has been the topic of a number of research reports. Roth Capital started coverage on shares of Annovis Bio in a research report on Tuesday. They issued a “buy” rating on the stock. Weiss Ratings upgraded Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Finally, Canaccord Genuity Group restated a “buy” rating and set a $17.00 target price on shares of Annovis Bio in a report on Tuesday, April 14th.

Insider Transactions 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 shares were acquired at an average cost of $1.87 per share, for a total transaction of $142,763.28. Following the completion of 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 20.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Annovis Bio by 69.3% in the second quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company’s stock worth $32,000 after purchasing an additional 6,100 shares during the last quarter. RKL Wealth Management LLC acquired a new position in Annovis Bio during the 4th quarter worth about $35,000. RFG Advisory LLC bought a new stake in shares of Annovis Bio in the 4th quarter valued at about $43,000. Wells Fargo & Company MN grew its position in shares of Annovis Bio by 46.8% in the 4th quarter. Wells Fargo & Company MN now owns 14,307 shares of the company’s stock valued at $50,000 after buying an additional 4,561 shares during the last quarter. Finally, Koshinski Asset Management Inc. acquired a new stake in shares of Annovis Bio in the fourth quarter valued at about $52,000. 15.83% of the stock is currently owned by institutional investors and hedge funds.

Annovis Bio Stock Performance

Shares of NYSE ANVS traded down $0.03 during midday trading on Tuesday, reaching $1.95. 1,597,403 shares of the company traded hands, compared to its average volume of 841,464. Annovis Bio has a 12 month low of $1.54 and a 12 month high of $5.50. The stock’s 50-day simple moving average is $1.95 and its 200-day simple moving average is $2.44. The firm has a market cap of $67.39 million, a PE ratio of -1.14 and a beta of 1.19.

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

Annovis Bio Company Profile

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.