Annexon, Inc. (NASDAQ:ANNX) Sees Significant Increase in Short Interest

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

Annexon Trading Up 1.1 %

ANNX stock traded up $0.05 during trading on Friday, hitting $4.16. The company had a trading volume of 562,272 shares, compared to its average volume of 1,452,545. The firm has a market capitalization of $442.88 million, a price-to-earnings ratio of -3.95 and a beta of 1.11. The business has a 50 day moving average of $5.24 and a 200 day moving average of $5.92. Annexon has a fifty-two week low of $3.86 and a fifty-two week high of $8.40.

Institutional Trading of Annexon

Institutional investors have recently modified their holdings of the company. Sandia Investment Management LP bought a new position in shares of Annexon in the second quarter valued at $49,000. Victory Capital Management Inc. purchased a new stake in shares of Annexon during the second quarter valued at $51,000. Quarry LP purchased a new stake in shares of Annexon during the third quarter valued at $118,000. Intech Investment Management LLC acquired a new position in shares of Annexon in the 3rd quarter valued at $154,000. Finally, Maven Securities LTD purchased a new position in Annexon in the 2nd quarter worth about $170,000.

Wall Street Analyst Weigh In

A number of research analysts have commented on ANNX shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a report on Friday, November 15th. 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. Finally, Needham & Company LLC restated a “buy” rating and set a $16.00 price target on shares of Annexon in a research report on Friday, November 15th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $15.80.

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.