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

Annexon, Inc. (NASDAQ:ANNX) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 7,770,000 shares, a decrease of 12.9% from the October 15th total of 8,920,000 shares. Based on an average daily volume of 1,270,000 shares, the short-interest ratio is presently 6.1 days.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ANNX. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Annexon in a research note on Friday. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Annexon in a research note on Friday. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research note on Friday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $15.80.

Insiders Place Their Bets

In other news, EVP Ted Yednock sold 5,500 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $5.64, for a total transaction of $31,020.00. Following the completion of the sale, the executive vice president now owns 10,000 shares in the company, valued at approximately $56,400. This represents a 35.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 20,908 shares of company stock valued at $135,768 in the last three months. Insiders own 12.67% of the company’s stock.

Hedge Funds Weigh In On Annexon

Hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC bought a new stake in Annexon in the first quarter valued at about $87,000. Vanguard Group Inc. grew its stake in shares of Annexon by 96.4% in the 1st quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock valued at $26,871,000 after purchasing an additional 1,839,329 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Annexon by 9.6% in the 1st quarter. Acadian Asset Management LLC now owns 957,993 shares of the company’s stock worth $6,867,000 after buying an additional 83,969 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Annexon by 78.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock worth $48,000 after buying an additional 2,949 shares during the period. Finally, American International Group Inc. boosted its stake in Annexon by 46.3% in the 1st quarter. American International Group Inc. now owns 33,197 shares of the company’s stock valued at $238,000 after buying an additional 10,510 shares in the last quarter.

Annexon Trading Down 3.3 %

Shares of NASDAQ ANNX opened at $6.12 on Friday. The firm has a market capitalization of $646.58 million, a price-to-earnings ratio of -4.98 and a beta of 1.23. Annexon has a one year low of $2.27 and a one year high of $8.40. The business has a fifty day simple moving average of $6.91 and a 200 day simple moving average of $5.92.

Annexon Company Profile

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.