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

Annexon, Inc. (NASDAQ:ANNX) saw a significant decrease in short interest in 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 currently 6.1 days.

Annexon Price Performance

NASDAQ ANNX opened at $6.12 on Friday. Annexon has a one year low of $2.27 and a one year high of $8.40. The firm has a market cap of $646.58 million, a P/E ratio of -4.98 and a beta of 1.23. The stock’s 50-day moving average is $6.91 and its 200-day moving average is $5.92.

Analysts Set New Price Targets

ANNX has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Annexon in a research report on Friday. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Friday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Annexon in a research note on Friday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Annexon has a consensus rating of “Buy” and an average target price of $15.80.

Insider Transactions at Annexon

In other news, EVP Ted Yednock sold 5,500 shares of the business’s stock in a transaction on 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 $56,400. The trade was a 35.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 20,908 shares of company stock worth $135,768. Corporate insiders own 12.67% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its holdings in Annexon by 10,482.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,323,704 shares of the company’s stock worth $9,492,000 after purchasing an additional 1,311,195 shares in the last quarter. Vanguard Group Inc. raised its position in 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 buying an additional 1,839,329 shares during the last quarter. Point72 Europe London LLP bought a new stake in Annexon in the 2nd quarter valued at approximately $1,150,000. Point72 Asset Management L.P. boosted its position in Annexon by 16.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock worth $29,346,000 after acquiring an additional 832,617 shares during the last quarter. Finally, Bellevue Group AG bought a new position in shares of Annexon during the 1st quarter worth approximately $15,647,000.

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.