Annovis Bio (NYSE:ANVS) Stock Rating Lowered by Wall Street Zen

Annovis Bio (NYSE:ANVS) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued on Monday, Wall Street Zen reports.

Several other analysts have also recently issued reports on the stock. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Annovis Bio in a report on Tuesday, August 18th. Roth Capital decreased their price objective on shares of Annovis Bio from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 27th. Zacks Research raised shares of Annovis Bio to a “hold” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings upgraded shares of Annovis Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.00.

Annovis Bio Stock Down 5.4%

ANVS stock opened at $1.30 on Monday. Annovis Bio has a 52-week low of $1.04 and a 52-week high of $5.50. The stock’s 50 day moving average is $1.58 and its two-hundred day moving average is $1.85. The company has a market capitalization of $55.70 million, a PE ratio of -0.73 and a beta of 1.24.

Annovis Bio (NYSE:ANVS) last released its earnings results on Friday, August 14th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.05. As a group, sell-side analysts anticipate that Annovis Bio will post -1.32 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ANVS. Bank of New York Mellon Corp bought a new position in Annovis Bio in the 2nd quarter worth about $29,000. Quadcap Wealth Management LLC bought a new stake in shares of Annovis Bio during the second quarter valued at approximately $30,000. Gill Capital Partners LLC bought a new stake in shares of Annovis Bio during the fourth quarter valued at approximately $64,000. First National Trust Co boosted its position in shares of Annovis Bio by 50.0% during the second quarter. First National Trust Co now owns 60,000 shares of the company’s stock worth $112,000 after buying an additional 20,000 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Annovis Bio during the second quarter worth approximately $89,000. 15.83% of the stock is currently owned by institutional investors.

About Annovis Bio

Annovis Bio, Inc (NYSE: ANVS) is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative diseases, including Alzheimer’s disease and Parkinson’s disease. The company is headquartered in Berwyn, Pennsylvania, and its research centers on therapies intended to address mechanisms associated with the accumulation of toxic proteins in the brain.

Annovis Bio’s lead investigational product is buntanetap, formerly known as ANVS401. The orally administered small-molecule drug is designed to inhibit the production of multiple neurotoxic proteins implicated in neurodegenerative disorders.