Annovis Bio (NYSE:ANVS) Receives Hold Rating from D. Boral Capital

Annovis Bio (NYSE:ANVS)‘s stock had its “hold” rating restated by analysts at D. Boral Capital in a research report issued to clients and investors on Monday,Benzinga reports.

A number of other equities research analysts also recently issued reports on ANVS. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Annovis Bio in a research report on Monday, November 11th. Maxim Group raised Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Annovis Bio has an average rating of “Moderate Buy” and a consensus price target of $31.40.

Annovis Bio Stock Performance

ANVS opened at $2.94 on Monday. Annovis Bio has a 1 year low of $2.88 and a 1 year high of $20.00. The company’s 50 day simple moving average is $4.98 and its 200 day simple moving average is $7.18. The stock has a market capitalization of $41.87 million, a PE ratio of -0.66 and a beta of 1.63.

Annovis Bio (NYSE:ANVS) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.33). As a group, sell-side analysts expect that Annovis Bio will post -2.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Annovis Bio

Several institutional investors and hedge funds have recently modified their holdings of ANVS. Geode Capital Management LLC lifted its position in Annovis Bio by 30.0% during the 3rd quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock worth $799,000 after acquiring an additional 22,881 shares in the last quarter. Merit Financial Group LLC raised its stake in shares of Annovis Bio by 269.0% during the fourth quarter. Merit Financial Group LLC now owns 98,516 shares of the company’s stock valued at $496,000 after purchasing an additional 71,816 shares during the period. Quest Partners LLC acquired a new position in shares of Annovis Bio during the third quarter worth $371,000. State Street Corp boosted its stake in shares of Annovis Bio by 23.7% in the third quarter. State Street Corp now owns 36,035 shares of the company’s stock valued at $290,000 after purchasing an additional 6,900 shares during the period. Finally, Greenwich Wealth Management LLC grew its holdings in Annovis Bio by 9.3% during the 3rd quarter. Greenwich Wealth Management LLC now owns 16,475 shares of the company’s stock valued at $133,000 after purchasing an additional 1,400 shares in the last quarter. Hedge funds and other 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.