Annovis Bio (NYSE:ANVS) Price Target Cut to $26.00

Annovis Bio (NYSE:ANVS) had its price objective cut by Canaccord Genuity Group from $36.00 to $26.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

ANVS has been the subject of a number of other research reports. HC Wainwright restated a buy rating and issued a $30.00 target price on shares of Annovis Bio in a research note on Tuesday, April 2nd. Brookline Capital Management lowered Annovis Bio from a buy rating to a hold rating and set a $9.00 price objective for the company. in a research report on Wednesday, February 28th.

Annovis Bio Trading Down 4.6 %

NYSE:ANVS opened at $5.20 on Tuesday. The company has a 50-day moving average price of $10.31 and a 200-day moving average price of $10.22. The stock has a market cap of $57.25 million, a price-to-earnings ratio of -0.84 and a beta of 1.76. Annovis Bio has a 12 month low of $4.86 and a 12 month high of $22.49.

Annovis Bio (NYSE:ANVS) last issued its quarterly earnings data on Friday, March 29th. The company reported ($1.09) EPS for the quarter. Equities analysts forecast that Annovis Bio will post -2.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Annovis Bio

Several large investors have recently made changes to their positions in ANVS. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Annovis Bio in the 3rd quarter worth approximately $2,847,000. Greenwich Wealth Management LLC purchased a new position in Annovis Bio during the fourth quarter valued at $192,000. Private Trust Co. NA bought a new stake in Annovis Bio in the fourth quarter worth $56,000. Finally, Wealthspire Advisors LLC grew its stake in shares of Annovis Bio by 9.9% in the fourth quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock worth $206,000 after acquiring an additional 990 shares during the last quarter. 15.83% of the stock is currently owned by hedge funds and other institutional investors.

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.