Annovis Bio, Inc. (NYSE:ANVS) Receives Consensus Rating of "Hold" from Brokerages

Annovis Bio, Inc. (NYSE:ANVS) has received a consensus "Hold" rating from five research firms. Analysts have mixed recommendations: one "sell," two "hold," and two "buy." The average 12-month target price is $13.50. Recent insider purchases include shares by Director Michael B. Hoffman and CEO Maria-Luisa Maccecchini. Institutional investors have modified their holdings, with notable activity from Vanguard Group Inc. and JPMorgan Chase & Co. Annovis Bio develops drugs for neurodegenerative diseases, with Buntanetap as its lead product candidate.

Annovis Bio, Inc. (NYSE:ANVS - Get Free Report) has earned a consensus recommendation of "Hold" from the five research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $13.50.

ANVS has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Annovis Bio to a "hold" rating in a research note on Friday, August 8th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Annovis Bio in a research note on Monday, November 24th. Canaccord Genuity Group reissued a "buy" rating and set a $17.00 price objective on shares of Annovis Bio in a report on Tuesday, September 30th. Finally, HC Wainwright lowered their target price on Annovis Bio from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, September 3rd.

Get Our Latest Report on ANVS

Annovis Bio Price Performance

Shares of Annovis Bio stock opened at $4.50 on Tuesday. Annovis Bio has a 1 year low of $1.11 and a 1 year high of $7.39. The firm has a market cap of $119.25 million, a PE ratio of -3.12 and a beta of 1.48. The stock has a fifty day moving average price of $2.54 and a 200-day moving average price of $2.53.

Annovis Bio (NYSE:ANVS - Get Free Report) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.37) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.01). As a group, equities analysts anticipate that Annovis Bio will post -2.19 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael B. Hoffman acquired 39,200 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were acquired at an average cost of $4.08 per share, for a total transaction of $159,936.00. Following the purchase, the director owned 2,519,739 shares of the company's stock, valued at approximately $10,280,535.12. The trade was a 1.58% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Maria-Luisa Maccecchini acquired 97,561 shares of the company's stock in a transaction on Tuesday, October 28th. The shares were acquired at an average cost of $2.05 per share, for a total transaction of $200,000.05. Following the completion of the acquisition, the chief executive officer owned 1,212,020 shares of the company's stock, valued at approximately $2,484,641. The trade was a 8.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders purchased 1,147,371 shares of company stock valued at $2,461,587. 20.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Annovis Bio

Institutional investors and hedge funds have recently modified their holdings of the company. Warberg Asset Management LLC bought a new stake in Annovis Bio during the 1st quarter worth approximately $58,000. Vanguard Group Inc. boosted its holdings in Annovis Bio by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 738,003 shares of the company's stock valued at $1,528,000 after purchasing an additional 41,239 shares during the period. Jane Street Group LLC purchased a new position in shares of Annovis Bio during the 2nd quarter valued at $52,000. Marshall Wace LLP bought a new position in shares of Annovis Bio in the second quarter worth $197,000. Finally, JPMorgan Chase & Co. raised its position in shares of Annovis Bio by 69.3% in the second quarter. JPMorgan Chase & Co. now owns 14,900 shares of the company's stock worth $32,000 after buying an additional 6,100 shares in the last quarter. 15.83% of the stock is owned by hedge funds and other institutional investors.

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.

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