Annovis Bio (NYSE:ANVS) Upgraded at Roth Capital

Annovis Bio (NYSE:ANVS) was upgraded by equities researchers at Roth Capital to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other research firms have also issued reports on ANVS. Weiss Ratings upgraded Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 target price on shares of Annovis Bio in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.67.

Annovis Bio Stock Performance

NYSE:ANVS opened at $1.97 on Tuesday. The firm has a 50-day simple moving average of $1.95 and a 200-day simple moving average of $2.42. Annovis Bio has a one year low of $1.54 and a one year high of $5.50. The firm has a market cap of $68.09 million, a P/E ratio of -1.15 and a beta of 1.19.

Annovis Bio (NYSE:ANVS) last posted its earnings results on Friday, May 15th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.23).

Insider Activity at Annovis Bio

In other Annovis Bio news, Director Michael B. Hoffman bought 76,344 shares of the stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $1.87 per share, with a total value of $142,763.28. Following the purchase, the director directly owned 3,364,883 shares in the company, valued at $6,292,331.21. This trade represents a 2.32% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 20.80% of the company’s stock.

Institutional Trading of Annovis Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in Annovis Bio during the first quarter worth $775,000. Virtu Financial LLC acquired a new stake in shares of Annovis Bio during the 4th quarter worth about $91,000. NewEdge Advisors LLC acquired a new position in shares of Annovis Bio in the 4th quarter valued at $71,000. Bridgeway Capital Management LLC grew its holdings in shares of Annovis Bio by 25.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 24,400 shares of the company’s stock worth $84,000 after purchasing an additional 5,000 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Annovis Bio in the fourth quarter valued at approximately $215,000. Institutional investors and hedge funds own 15.83% of the company’s stock.

Annovis Bio Company Profile

Annovis Bio, Inc (NYSE: ANVS) is a clinical-stage biotechnology company headquartered in Tampa, Florida, focused on the discovery and development of small molecule therapeutics for neurodegenerative and neuroinflammatory disorders. Leveraging a proprietary platform that targets protein trafficking and translational dysregulation, Annovis aims to restore cellular homeostasis by modulating the production and clearance of disease-related proteins. The company’s pipeline is designed to address critical pathways implicated in Alzheimer’s disease, Parkinson’s disease, multiple sclerosis and other central nervous system conditions.

The company’s lead asset, ANVS401 (Posiphen®), is an oral small molecule that has been evaluated in Phase 1 and Phase 2 clinical trials to reduce levels of amyloid precursor protein and its toxic fragments in Alzheimer’s patients.