Annovis Bio (NYSE:ANVS) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Annovis Bio (NYSE:ANVS) in a report released on Tuesday morning, Benzinga reports. They currently have a $30.00 price objective on the stock.

Several other brokerages have also recently commented on ANVS. Brookline Capital Management cut shares of Annovis Bio from a buy rating to a hold rating and set a $9.00 price objective for the company. in a research note on Wednesday, February 28th. Canaccord Genuity Group cut their price target on shares of Annovis Bio from $36.00 to $26.00 and set a buy rating for the company in a research note on Tuesday.

Annovis Bio Stock Performance

Shares of ANVS stock opened at $5.52 on Tuesday. The firm has a market cap of $60.78 million, a price-to-earnings ratio of -0.89 and a beta of 1.59. Annovis Bio has a 52 week low of $5.23 and a 52 week high of $22.49. The firm’s 50-day simple moving average is $10.49 and its two-hundred day simple moving average is $10.28.

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

Institutional Investors Weigh In On Annovis Bio

A number of institutional investors have recently made changes to their positions in ANVS. Wealthspire Advisors LLC raised its holdings in Annovis Bio by 9.9% during the 4th quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock valued at $206,000 after buying an additional 990 shares during the last quarter. Greenwich Wealth Management LLC bought a new stake in Annovis Bio during the 4th quarter valued at $192,000. Private Trust Co. NA bought a new stake in Annovis Bio during the 4th quarter valued at $56,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Annovis Bio during the 3rd quarter valued at $2,847,000. Hedge funds and other institutional investors 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 is in Phase 3 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.