Annovis Bio (NYSE:ANVS) Price Target Cut to $12.00 by Analysts at HC Wainwright

Annovis Bio (NYSE:ANVS) had its price objective trimmed by HC Wainwright from $30.00 to $12.00 in a report issued on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. D. Boral Capital reaffirmed a “hold” rating on shares of Annovis Bio in a research report on Monday, February 10th. Canaccord Genuity Group cut their target price on Annovis Bio from $26.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $30.25.

Annovis Bio Trading Down 4.5%

NYSE ANVS opened at $3.07 on Monday. The business has a fifty day simple moving average of $1.77 and a 200 day simple moving average of $3.11. Annovis Bio has a 12 month low of $1.11 and a 12 month high of $17.88. The firm has a market capitalization of $59.76 million, a P/E ratio of -0.69 and a beta of 1.62.

Annovis Bio (NYSE:ANVS) last posted its earnings results on Tuesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.15. As a group, sell-side analysts predict that Annovis Bio will post -2.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Annovis Bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Atria Wealth Solutions Inc. purchased a new stake in Annovis Bio during the fourth quarter worth about $65,000. Greenwich Wealth Management LLC grew its position in shares of Annovis Bio by 93.9% during the 4th quarter. Greenwich Wealth Management LLC now owns 31,951 shares of the company’s stock valued at $161,000 after acquiring an additional 15,476 shares during the period. Lokken Investment Group LLC increased its stake in shares of Annovis Bio by 49.0% during the 4th quarter. Lokken Investment Group LLC now owns 18,235 shares of the company’s stock worth $92,000 after purchasing an additional 6,000 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Annovis Bio during the 4th quarter worth approximately $59,000. Finally, Northern Trust Corp raised its holdings in shares of Annovis Bio by 49.4% in the 4th quarter. Northern Trust Corp now owns 32,780 shares of the company’s stock worth $165,000 after purchasing an additional 10,846 shares during the period. 15.83% of the stock is owned by hedge funds and other institutional investors.

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.