Brokerages Set Annovis Bio, Inc. (NYSE:ANVS) Price Target at $30.25

Shares of Annovis Bio, Inc. (NYSE:ANVS - Get Free Report) have received a consensus rating of "Buy" from the six research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $30.25.

A number of research firms recently commented on ANVS. HC Wainwright decreased their price objective on Annovis Bio from $30.00 to $12.00 and set a "buy" rating on the stock in a report on Monday. Canaccord Genuity Group reduced their price objective on shares of Annovis Bio from $26.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, May 15th.

Annovis Bio Trading Down 4.3%

NYSE:ANVS traded down $0.13 during trading hours on Tuesday, hitting $2.82. The company had a trading volume of 371,932 shares, compared to its average volume of 738,220. Annovis Bio has a 1 year low of $1.11 and a 1 year high of $17.88. The company has a market cap of $54.85 million, a P/E ratio of -0.63 and a beta of 1.62. The company has a 50-day moving average of $1.86 and a 200 day moving average of $3.08.

Annovis Bio (NYSE:ANVS - Get Free Report) last released its quarterly earnings data 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. On average, analysts forecast that Annovis Bio will post -2.19 earnings per share for the current year.

Hedge Funds Weigh In On Annovis Bio

Several institutional investors have recently modified their holdings of ANVS. Lokken Investment Group LLC increased its position in shares of Annovis Bio by 60.3% in the 1st quarter. Lokken Investment Group LLC now owns 29,235 shares of the company's stock valued at $44,000 after purchasing an additional 11,000 shares during the last quarter. Two Sigma Investments LP purchased a new stake in Annovis Bio in the 4th quarter valued at $55,000. Warberg Asset Management LLC acquired a new stake in shares of Annovis Bio during the first quarter worth about $58,000. XTX Topco Ltd acquired a new stake in Annovis Bio during the 4th quarter worth approximately $59,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Annovis Bio during the fourth quarter worth $65,000. Institutional investors and hedge funds own 15.83% of the company's stock.

Annovis Bio Company Profile

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.