Annovis Bio (NYSE:ANVS) Releases Earnings Results, Misses Expectations By $0.08 EPS

Annovis Bio (NYSE:ANVS) issued its quarterly earnings data on Friday. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.08), FiscalAI reports.

Annovis Bio Stock Performance

Shares of NYSE:ANVS traded up $0.06 during trading on Friday, reaching $2.52. The company had a trading volume of 234,622 shares, compared to its average volume of 423,540. The firm’s fifty day moving average is $2.83 and its 200 day moving average is $2.83. The firm has a market capitalization of $66.67 million, a PE ratio of -1.75 and a beta of 1.32. Annovis Bio has a twelve month low of $1.11 and a twelve month high of $5.50.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Annovis Bio in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.50.

Institutional Investors Weigh In On Annovis Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of Annovis Bio in the 4th quarter worth approximately $91,000. NewEdge Advisors LLC bought a new stake in Annovis Bio during the fourth quarter worth approximately $71,000. Bridgeway Capital Management LLC boosted its holdings in Annovis Bio by 25.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 24,400 shares of the company’s stock worth $84,000 after buying an additional 5,000 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Annovis Bio in the fourth quarter worth approximately $215,000. Finally, Marshall Wace LLP acquired a new position in Annovis Bio in the fourth quarter worth approximately $2,511,000. Institutional investors own 15.83% of the company’s stock.

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.