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

Annexon, Inc. (NASDAQ:ANNX - Get Free Report) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 8,980,000 shares, an increase 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 days-to-cover ratio is presently 6.7 days.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Annexon

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp boosted its holdings in Annexon by 116.6% in the 3rd quarter. State Street Corp now owns 3,841,879 shares of the company's stock worth $22,744,000 after acquiring an additional 2,068,294 shares during the period. Sio Capital Management LLC acquired a new position in shares of Annexon during the third quarter valued at approximately $8,484,000. Marshall Wace LLP grew its position in Annexon by 436.6% in the second 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. Point72 Asset Management L.P. grew 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 purchasing an additional 832,617 shares in the last quarter. Finally, Mutual of America Capital Management LLC purchased a new stake in shares of Annexon in the second quarter worth approximately $3,134,000.

Annexon Price Performance

Annexon stock traded down $0.14 during trading hours on Thursday, hitting $4.11. The stock had a trading volume of 3,225,615 shares, compared to its average volume of 1,442,828. Annexon has a 1-year low of $3.86 and a 1-year high of $8.40. The stock's fifty day moving average is $5.31 and its two-hundred day moving average is $5.93. The stock has a market capitalization of $437.55 million, a price-to-earnings ratio of -3.85 and a beta of 1.11.

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.