Annovis Bio, Inc. (NYSE:ANVS) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Annovis Bio has a “Moderate Buy” consensus rating from five analysts, with two buys, one strong buy, one hold and one sell. The average 12-month price target is $11.67, versus a recent share price of $1.75.
• The stock has declined 0.8% and trades near its 12-month low of $1.54, with a market capitalization of approximately $60.8 million. The company reported a quarterly loss of $0.63 per share, missing the $0.40 expected loss.
• Director Michael B. Hoffman purchased 76,344 shares for about $142,763, while insiders own 20.8% of the company and institutional investors hold 15.83%.

Shares of Annovis Bio, Inc. (NYSE:ANVS - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the five research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $11.6667.

Several equities analysts have issued reports on the stock. Zacks Research upgraded shares of Annovis Bio to a "hold" rating in a research report on Thursday, July 9th. Weiss Ratings raised shares of Annovis Bio from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, July 6th. Roth Capital began coverage on Annovis Bio in a research report on Tuesday, July 7th. They set a "buy" rating and a $8.00 target price for the company. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $17.00 price target on shares of Annovis Bio in a research report on Tuesday, April 14th.

Annovis Bio Stock Down 0.8%

NYSE:ANVS opened at $1.75 on Friday. Annovis Bio has a twelve month low of $1.54 and a twelve month high of $5.50. The stock's 50-day simple moving average is $1.82 and its 200 day simple moving average is $2.20. The firm has a market capitalization of $60.81 million, a PE ratio of -1.03 and a beta of 1.19.

Annovis Bio (NYSE:ANVS - Get Free Report) last posted its 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). On average, analysts anticipate that Annovis Bio will post -1.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Annovis Bio news, Director Michael B. Hoffman bought 76,344 shares of the stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $1.87 per share, for a total transaction of $142,763.28. Following the completion of the acquisition, the director owned 3,364,883 shares in the company, valued at $6,292,331.21. This trade represents a 2.32% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 20.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Annovis Bio by 5.9% during the third quarter. Vanguard Group Inc. now owns 738,003 shares of the company's stock valued at $1,528,000 after acquiring an additional 41,239 shares in the last quarter. Marshall Wace LLP acquired a new stake in Annovis Bio in the 4th quarter valued at $2,511,000. Renaissance Technologies LLC bought a new stake in Annovis Bio during the 1st quarter valued at $775,000. Geode Capital Management LLC raised its holdings in Annovis Bio by 20.6% during the fourth quarter. Geode Capital Management LLC now owns 222,132 shares of the company's stock worth $769,000 after buying an additional 37,978 shares during the last quarter. Finally, D.A. Davidson & CO. acquired a new position in Annovis Bio during the fourth quarter worth $556,000. Institutional investors own 15.83% of the company's stock.

About Annovis Bio

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.

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