Annovis Bio (NYSE:ANVS) Stock Rating Raised to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Annovis Bio (NYSE:ANVS) from a strong sell rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

ANVS has been the topic of several other research reports. Weiss Ratings cut Annovis Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. Roth Capital lowered 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, Canaccord Genuity Group restated a “buy” rating on shares of Annovis Bio in a report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.00.

Annovis Bio Trading Up 9.2%

ANVS stock traded up $0.08 during trading on Friday, reaching $0.93. The stock had a trading volume of 2,162,279 shares, compared to its average volume of 3,303,590. Annovis Bio has a 1-year low of $0.62 and a 1-year high of $5.50. The company has a market capitalization of $39.79 million, a P/E ratio of -0.52 and a beta of 1.36. The firm has a fifty day moving average price of $1.10 and a 200 day moving average price of $1.82.

Annovis Bio (NYSE:ANVS) last posted its quarterly earnings data on Friday, November 13th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.08. Sell-side analysts predict that Annovis Bio will post -1.32 EPS for the current year.

Insider Buying and Selling

In related news, Director Michael Hoffman acquired 5,000,000 shares of Annovis Bio stock in a transaction on Friday, November 6th. The shares were purchased at an average cost of $1.00 per share, for a total transaction of $5,000,000.00. Following the purchase, the director directly owned 8,364,883 shares of the company’s stock, valued at $8,364,883. The trade was a 148.59% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Annovis Bio

A number of institutional investors have recently modified their holdings of ANVS. Empery Asset Management LP bought a new position in shares of Annovis Bio during the second quarter worth about $4,466,745. Renaissance Technologies LLC acquired a new position in Annovis Bio in the first quarter worth about $775,000. BlackRock Inc. bought a new stake in Annovis Bio in the second quarter valued at about $465,000. State Street Corp increased its holdings in Annovis Bio by 35.5% in the third quarter. State Street Corp now owns 105,335 shares of the company’s stock valued at $134,000 after buying an additional 27,600 shares during the last quarter. Finally, First National Trust Co increased its holdings in Annovis Bio by 50.0% in the second quarter. First National Trust Co now owns 60,000 shares of the company’s stock valued at $112,000 after buying an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 15.83% of the company’s stock.

About Annovis Bio

Annovis Bio is a clinical-stage biotechnology company based in Malvern, Pennsylvania. Founded in 2008, the company researches and develops treatments for neurodegenerative diseases, including Alzheimer’s disease and Parkinson’s disease.