Short Interest in Annexon, Inc. (NASDAQ:ANNX) Increases By 26.1%

Annexon, Inc. (NASDAQ:ANNX) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 8,690,000 shares, a growth of 26.1% from the September 15th total of 6,890,000 shares. Based on an average trading volume of 1,310,000 shares, the short-interest ratio is currently 6.6 days.

Insider Transactions at Annexon

In other Annexon news, EVP Ted Yednock sold 5,500 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $5.95, for a total transaction of $32,725.00. Following the completion of the sale, the executive vice president now owns 15,500 shares of the company’s stock, valued at approximately $92,225. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 15,500 shares of company stock worth $95,695 in the last 90 days. 12.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Bellevue Group AG purchased a new stake in Annexon during the 1st quarter valued at about $15,647,000. Candriam S.C.A. acquired a new position in Annexon in the 2nd quarter worth approximately $10,061,000. Vanguard Group Inc. increased its holdings in Annexon by 96.4% in the 1st quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock worth $26,871,000 after buying an additional 1,839,329 shares during the period. Marshall Wace LLP raised its position in Annexon by 436.6% during the 2nd quarter. Marshall Wace LLP now owns 1,693,665 shares of the company’s stock worth $8,299,000 after buying an additional 1,378,053 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake 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 valued at $9,492,000 after acquiring an additional 1,311,195 shares during the period.

Annexon Stock Performance

Shares of ANNX opened at $7.41 on Tuesday. The company has a 50 day moving average price of $6.17 and a 200-day moving average price of $5.63. Annexon has a fifty-two week low of $1.57 and a fifty-two week high of $8.40. The stock has a market capitalization of $684.78 million, a PE ratio of -5.04 and a beta of 1.28.

Annexon (NASDAQ:ANNX) last announced its earnings results on Monday, August 12th. The company reported ($0.23) EPS for the quarter, hitting analysts’ consensus estimates of ($0.23). Equities research analysts forecast that Annexon will post -0.97 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ANNX shares. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Annexon in a research report on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a report on Monday, September 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Annexon in a report on Tuesday, August 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $15.80.

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.