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Annovis Bio (NYSE:ANVS) Releases Earnings Results, Beats Estimates By $0.04 EPS

Annovis Bio logo with Medical background

Key Points

  • Annovis Bio reported an earnings per share (EPS) of ($0.32), exceeding analysts' expectations by $0.04.
  • The company's stock price is currently $2.77, with a market capitalization of $53.89 million and a P/E ratio of -1.28.
  • JPMorgan Chase & Co. increased its position in Annovis Bio by 69.3%, reflecting institutional confidence in the company.
  • Want stock alerts on Annovis Bio? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Annovis Bio (NYSE:ANVS - Get Free Report) announced its earnings results on Tuesday. The company reported ($0.32) EPS for the quarter, beating analysts' consensus estimates of ($0.36) by $0.04, Zacks reports.

Annovis Bio Stock Performance

Shares of Annovis Bio stock traded down $0.06 on Tuesday, reaching $2.77. The stock had a trading volume of 242,867 shares, compared to its average volume of 460,908. The stock has a market cap of $53.89 million, a P/E ratio of -1.28 and a beta of 1.51. The business's 50-day moving average price is $2.68 and its two-hundred day moving average price is $2.24. Annovis Bio has a fifty-two week low of $1.11 and a fifty-two week high of $10.54.

Analysts Set New Price Targets

Several research analysts recently weighed in on ANVS shares. Canaccord Genuity Group cut their target price on shares of Annovis Bio from $26.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. HC Wainwright decreased their price target on Annovis Bio from $30.00 to $12.00 and set a "buy" rating for the company in a report on Monday, June 9th. One 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $18.00.

View Our Latest Stock Report on ANVS

Institutional Investors Weigh In On Annovis Bio

An institutional investor recently raised its position in Annovis Bio stock. JPMorgan Chase & Co. lifted its position in shares of Annovis Bio, Inc. (NYSE:ANVS - Free Report) by 69.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,900 shares of the company's stock after acquiring an additional 6,100 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.08% of Annovis Bio worth $32,000 at the end of the most recent reporting period. Institutional investors own 15.83% of the company's stock.

Annovis Bio Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for Annovis Bio (NYSE:ANVS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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