Brokerages Set Annovis Bio, Inc. (NYSE:ANVS) PT at $18.00

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 been given an average rating of "Buy" by the five ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $18.00.

ANVS has been the topic of a number of research analyst reports. Canaccord Genuity Group dropped their price target 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. HC Wainwright cut their price target on shares of Annovis Bio from $30.00 to $12.00 and set a "buy" rating on the stock in a report on Monday, June 9th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Warberg Asset Management LLC acquired a new position in Annovis Bio in the first quarter valued at approximately $58,000. Lokken Investment Group LLC lifted its holdings in Annovis Bio by 60.3% in the first quarter. Lokken Investment Group LLC now owns 29,235 shares of the company's stock valued at $44,000 after acquiring an additional 11,000 shares during the period. Two Sigma Investments LP acquired a new position in Annovis Bio in the fourth quarter valued at approximately $55,000. Cubist Systematic Strategies LLC acquired a new position in Annovis Bio in the fourth quarter valued at approximately $258,000. Finally, Jane Street Group LLC lifted its holdings in Annovis Bio by 99.7% in the fourth quarter. Jane Street Group LLC now owns 68,107 shares of the company's stock valued at $343,000 after acquiring an additional 34,001 shares during the period. 15.83% of the stock is owned by institutional investors and hedge funds.

Annovis Bio Trading Down 8.1%

Shares of ANVS stock traded down $0.22 during trading hours on Wednesday, reaching $2.51. 349,630 shares of the company's stock were exchanged, compared to its average volume of 324,064. Annovis Bio has a 1 year low of $1.11 and a 1 year high of $10.54. The stock has a market cap of $48.92 million, a PE ratio of -1.16 and a beta of 1.51. The stock's fifty day moving average price is $2.64 and its two-hundred day moving average price is $2.38.

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 for the quarter, topping analysts' consensus estimates of ($0.47) by $0.15. On average, equities analysts expect that Annovis Bio will post -2.19 EPS for the current fiscal 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.