Short Interest in Annexon, Inc. (NASDAQ:ANNX) Increases By 8.3%

Annexon, Inc. (NASDAQ:ANNX) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 10,090,000 shares, a growth of 8.3% from the January 15th total of 9,320,000 shares. Based on an average daily trading volume, of 1,420,000 shares, the short-interest ratio is presently 7.1 days.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Annexon

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Annexon during the 4th quarter worth about $252,000. TFG Asset Management GP Ltd boosted its position in shares of Annexon by 78.5% during the 4th quarter. TFG Asset Management GP Ltd now owns 1,400,000 shares of the company’s stock worth $7,182,000 after purchasing an additional 615,645 shares in the last quarter. Shay Capital LLC bought a new position in shares of Annexon during the 4th quarter worth about $159,000. Sphera Funds Management LTD. bought a new position in shares of Annexon during the 4th quarter worth about $6,377,000. Finally, Rafferty Asset Management LLC lifted its position in Annexon by 23.5% in the 4th quarter. Rafferty Asset Management LLC now owns 218,369 shares of the company’s stock valued at $1,120,000 after acquiring an additional 41,544 shares in the last quarter.

Annexon Trading Up 2.0 %

Shares of ANNX opened at $3.07 on Tuesday. The stock has a market capitalization of $327.23 million, a P/E ratio of -2.92 and a beta of 1.07. The firm’s fifty day simple moving average is $4.41 and its two-hundred day simple moving average is $5.63. Annexon has a 12 month low of $2.87 and a 12 month high of $8.40.

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.