Annovis Bio, Inc. (NYSE:ANVS) Receives $18.00 Average Price Target from Analysts

Key Points

• Analysts have given Annovis Bio, Inc. (NYSE:ANVS) an average rating of "Buy" with a 12-month price target of $18.00, despite varying opinions on the stock's potential.
• Recent institutional investments indicate increased interest in Annovis Bio, with companies like Jane Street Group LLC boosting their stake by 99.7% during the last quarter.
• Annovis Bio's stock is currently trading around $2.66, recovering from a one-year low of $1.11 and reflecting a market capitalization of $51.77 million.

Shares of Annovis Bio, Inc. (NYSE:ANVS - Get Free Report) have received an average recommendation of "Buy" from the five research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $18.00.

A number of brokerages have issued reports on ANVS. HC Wainwright lowered their price target on Annovis Bio from $30.00 to $12.00 and set a "buy" rating on the stock in a research report on Monday, June 9th. Canaccord Genuity Group lowered their price objective on Annovis Bio from $26.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, May 15th.

Institutional Investors Weigh In On Annovis Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC increased its position in Annovis Bio by 99.7% during the fourth quarter. Jane Street Group LLC now owns 68,107 shares of the company's stock worth $343,000 after purchasing an additional 34,001 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Annovis Bio during the fourth quarter worth about $258,000. Warberg Asset Management LLC acquired a new stake in Annovis Bio during the first quarter worth about $58,000. Northern Trust Corp increased its position in Annovis Bio by 49.4% during the fourth 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 last quarter. Finally, Lokken Investment Group LLC increased its position in Annovis Bio by 60.3% during the first quarter. Lokken Investment Group LLC now owns 29,235 shares of the company's stock worth $44,000 after purchasing an additional 11,000 shares during the last quarter. 15.83% of the stock is currently owned by institutional investors and hedge funds.

Annovis Bio Trading Down 8.1%

ANVS traded down $0.22 on Wednesday, reaching $2.51. The stock had a trading volume of 349,629 shares, compared to its average volume of 472,321. Annovis Bio has a 12-month low of $1.11 and a 12-month high of $10.54. The business's 50-day moving average price is $2.63 and its two-hundred day moving average price is $2.40. The company has a market cap of $48.91 million, a P/E ratio of -1.16 and a beta of 1.57.

Annovis Bio (NYSE:ANVS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.47) by $0.15. As a group, analysts predict that Annovis Bio will post -2.19 earnings per share for the current year.

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.