Annexon, Inc. (NASDAQ:ANNX) Short Interest Down 12.9% in October

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

Insider Buying and Selling

In related news, EVP Ted Yednock sold 5,500 shares of the business's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $5.95, for a total value of $32,725.00. Following the completion of the sale, the executive vice president now directly owns 15,500 shares in the company, valued at $92,225. The trade was a 26.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 20,908 shares of company stock valued at $135,768. Company insiders own 12.67% of the company's stock.

Institutional Investors Weigh In On Annexon

Large investors have recently modified their holdings of the business. Parkman Healthcare Partners LLC boosted its stake in Annexon by 0.5% in the third quarter. Parkman Healthcare Partners LLC now owns 328,613 shares of the company's stock valued at $1,945,000 after buying an additional 1,768 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Annexon by 1.6% in the third quarter. The Manufacturers Life Insurance Company now owns 159,586 shares of the company's stock worth $945,000 after acquiring an additional 2,450 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Annexon by 78.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company's stock valued at $48,000 after purchasing an additional 2,949 shares in the last quarter. GSA Capital Partners LLP grew its holdings in shares of Annexon by 10.7% during the 3rd quarter. GSA Capital Partners LLP now owns 34,581 shares of the company's stock valued at $205,000 after purchasing an additional 3,355 shares during the last quarter. Finally, Allegheny Financial Group LTD increased its position in Annexon by 16.1% during the 2nd quarter. Allegheny Financial Group LTD now owns 25,200 shares of the company's stock worth $123,000 after purchasing an additional 3,500 shares in the last quarter.

Annexon Stock Performance

Shares of NASDAQ ANNX traded down $0.21 during trading hours on Friday, hitting $6.12. 1,917,213 shares of the stock were exchanged, compared to its average volume of 1,819,268. The company's fifty day simple moving average is $6.91 and its two-hundred day simple moving average is $5.92. The company has a market cap of $646.58 million, a PE ratio of -4.98 and a beta of 1.23. Annexon has a 1-year low of $2.27 and a 1-year high of $8.40.

Analysts Set New Price Targets

ANNX has been the topic of several research reports. Cantor Fitzgerald restated an "overweight" rating on shares of Annexon in a research note on Friday. HC Wainwright reaffirmed a "buy" rating and set a $30.00 target price on shares of Annexon in a report on Friday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $16.00 price target on shares of Annexon in a research note on Friday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target 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.