Annexon, Inc. (NASDAQ:ANNX) Short Interest Update

Annexon, Inc. (NASDAQ:ANNX) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 8,980,000 shares, an increase of 23.7% from the December 31st total of 7,260,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is presently 6.7 days.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ANNX. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Annexon in a research note on Tuesday, December 17th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Annexon in a research note on Friday, November 15th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a report on Friday, November 15th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Annexon presently has a consensus rating of “Buy” and an average target price of $15.80.

Annexon Price Performance

Shares of ANNX traded down $0.06 during trading hours on Friday, hitting $3.99. 567,502 shares of the company were exchanged, compared to its average volume of 1,505,372. The company has a market capitalization of $424.76 million, a PE ratio of -3.80 and a beta of 1.11. The firm has a fifty day simple moving average of $4.85 and a 200-day simple moving average of $5.86. Annexon has a one year low of $3.82 and a one year high of $8.40.

Institutional Trading of Annexon

Hedge funds and other institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Annexon in the fourth quarter worth $116,000. Quarry LP acquired a new stake in Annexon during the third quarter valued at $118,000. Intech Investment Management LLC acquired a new stake in Annexon during the third quarter valued at $154,000. Maven Securities LTD bought a new position in Annexon during the second quarter valued at about $170,000. Finally, SG Americas Securities LLC raised its holdings in Annexon by 117.8% during the third quarter. SG Americas Securities LLC now owns 32,763 shares of the company’s stock valued at $194,000 after buying an additional 17,723 shares in the last quarter.

About Annexon

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines for treating inflammatory-related diseases. Its lead candidate is ANX005, an investigational full-length monoclonal antibody, which is in Phase 3 clinical trial for the treatment of patients with guillain-barré syndrome; completed Phase II clinical trial for treating Huntington's disease; and in Phase II clinical trial for the treatment of amyotrophic lateral sclerosis.