Annovis Bio (NYSE:ANVS) Given Buy Rating at Rodman & Renshaw

Annovis Bio (NYSE:ANVS)‘s stock had its “buy” rating reaffirmed by equities researchers at Rodman & Renshaw in a report released on Tuesday, Benzinga reports. They currently have a $67.00 price objective on the stock.

A number of other research analysts have also issued reports on ANVS. Canaccord Genuity Group decreased their target price on Annovis Bio from $36.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 target price on shares of Annovis Bio in a research report on Wednesday, June 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.20.

Annovis Bio Trading Up 80.8 %

Shares of ANVS traded up $4.26 during trading hours on Tuesday, reaching $9.53. 13,518,448 shares of the company traded hands, compared to its average volume of 511,338. The firm has a market cap of $106.45 million, a price-to-earnings ratio of -1.24 and a beta of 1.75. Annovis Bio has a 12-month low of $4.53 and a 12-month high of $22.49. The stock’s fifty day moving average price is $7.04 and its 200 day moving average price is $9.90.

Annovis Bio (NYSE:ANVS) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.15. On average, research analysts forecast that Annovis Bio will post -2.46 earnings per share for the current year.

Institutional Trading of Annovis Bio

Several large investors have recently added to or reduced their stakes in the business. Wealthspire Advisors LLC grew its holdings in shares of Annovis Bio by 9.9% during the fourth 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. 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. Private Trust Co. NA acquired a new position in Annovis Bio in the 4th quarter valued at approximately $56,000. Cetera Advisors LLC acquired a new position in Annovis Bio in the 1st quarter valued at approximately $122,000. Finally, Greenwich Wealth Management LLC acquired a new position in Annovis Bio in the 4th quarter valued at approximately $192,000. 15.83% of the stock is currently owned by institutional investors and hedge funds.

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.