HC Wainwright Reiterates “Buy” Rating for Annovis Bio (NYSE:ANVS)

Annovis Bio (NYSE:ANVS)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They presently have a $30.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 246.42% from the stock’s current price.

A number of other analysts have also issued reports on ANVS. Rodman & Renshaw reissued a “buy” rating and issued a $67.00 target price on shares of Annovis Bio in a research report on Tuesday, July 2nd. EF Hutton Acquisition Co. I upgraded shares of Annovis Bio to a “strong-buy” rating in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $33.60.

Annovis Bio Stock Performance

ANVS stock opened at $8.66 on Wednesday. Annovis Bio has a one year low of $4.53 and a one year high of $22.49. The firm has a market cap of $96.74 million, a PE ratio of -1.51 and a beta of 1.72. The firm’s 50 day moving average price is $8.39 and its 200-day moving average price is $8.66.

Annovis Bio (NYSE:ANVS) last posted its earnings results on Thursday, August 15th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.19. Equities research analysts predict that Annovis Bio will post -2.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Annovis Bio

Hedge funds have recently bought and sold shares of the stock. Greenwich Wealth Management LLC increased its stake in shares of Annovis Bio by 19.9% during the second quarter. Greenwich Wealth Management LLC now owns 15,075 shares of the company’s stock worth $87,000 after buying an additional 2,500 shares during the period. XTX Topco Ltd purchased a new stake in shares of Annovis Bio in the 2nd quarter valued at approximately $115,000. Cetera Advisors LLC acquired a new stake in shares of Annovis Bio in the 1st quarter valued at $122,000. Redmond Asset Management LLC lifted its position in shares of Annovis Bio by 6.1% during the 1st quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock worth $430,000 after purchasing an additional 2,077 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Annovis Bio by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock worth $4,260,000 after purchasing an additional 20,588 shares during the last quarter. Institutional investors and hedge funds 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.