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

Annovis Bio (NYSE:ANVS - Get Free Report) had its target price lowered by investment analysts at HC Wainwright from $30.00 to $12.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target would suggest a potential upside of 275.23% from the company's previous close.

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

Annovis Bio Trading Up 4.9%

NYSE ANVS opened at $3.20 on Monday. The stock has a market cap of $62.32 million, a PE ratio of -0.72 and a beta of 1.62. Annovis Bio has a 12 month low of $1.11 and a 12 month high of $17.88. The stock's 50 day moving average is $1.74 and its 200 day moving average is $3.13.

Annovis Bio (NYSE:ANVS - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.15. On average, analysts forecast that Annovis Bio will post -2.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Jane Street Group LLC lifted its holdings in shares of Annovis Bio by 99.7% in the 4th quarter. Jane Street Group LLC now owns 68,107 shares of the company's stock worth $343,000 after acquiring an additional 34,001 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Annovis Bio in the fourth quarter worth about $258,000. Warberg Asset Management LLC purchased a new position in shares of Annovis Bio during the first quarter valued at approximately $58,000. Northern Trust Corp grew its stake in shares of Annovis Bio by 49.4% during the fourth quarter. Northern Trust Corp now owns 32,780 shares of the company's stock valued at $165,000 after buying an additional 10,846 shares during the last quarter. Finally, Greenwich Wealth Management LLC grew its stake in shares of Annovis Bio by 93.9% during the fourth quarter. Greenwich Wealth Management LLC now owns 31,951 shares of the company's stock valued at $161,000 after buying an additional 15,476 shares during the last quarter. Institutional investors 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.

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