Annovis Bio (NYSE:ANVS) Given “Buy” Rating at HC Wainwright

Annovis Bio (NYSE:ANVS)‘s stock had its “buy” rating reiterated by HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They presently have a $30.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 311.52% from the stock’s previous close.

Several other brokerages also recently weighed in on ANVS. Canaccord Genuity Group dropped their price objective on Annovis Bio from $36.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday. Brookline Capital Management downgraded Annovis Bio from a “buy” rating to a “hold” rating and set a $9.00 target price for the company. in a research note on Wednesday, February 28th.

Annovis Bio Stock Down 59.5 %

Shares of Annovis Bio stock opened at $7.29 on Tuesday. The company has a 50-day simple moving average of $10.58 and a two-hundred day simple moving average of $10.30. Annovis Bio has a twelve month low of $5.23 and a twelve month high of $22.49. The stock has a market capitalization of $80.26 million, a price-to-earnings ratio of -1.17 and a beta of 1.59.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings results on Friday, March 29th. The company reported ($1.09) EPS for the quarter. On average, sell-side analysts anticipate that Annovis Bio will post -3.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Annovis Bio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealthspire Advisors LLC increased its position in Annovis Bio by 9.9% in the 4th quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock valued at $206,000 after buying an additional 990 shares in the last quarter. Greenwich Wealth Management LLC acquired a new stake in Annovis Bio in the fourth quarter valued at approximately $192,000. Private Trust Co. NA bought a new stake in shares of Annovis Bio during the fourth quarter valued at approximately $56,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Annovis Bio during the third quarter worth approximately $2,847,000. Institutional investors and hedge funds own 15.83% of the company’s stock.

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 is in Phase 3 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.