Annexon, Inc. (NASDAQ:ANNX) Short Interest Up 23.7% in January

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

Wall Street Analyst Weigh In

ANNX has been the subject of a number of analyst reports. Cantor Fitzgerald reissued an "overweight" rating on shares of Annexon in a research report on Friday, November 15th. HC Wainwright restated a "buy" rating and set 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 target price on shares of Annexon in a research note on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Annexon has a consensus rating of "Buy" and a consensus target price of $15.80.

Annexon Stock Performance

NASDAQ ANNX traded down $0.32 on Monday, reaching $3.53. The stock had a trading volume of 880,564 shares, compared to its average volume of 1,513,449. Annexon has a 12-month low of $3.50 and a 12-month high of $8.40. The business's 50-day moving average price is $4.82 and its 200 day moving average price is $5.84. The stock has a market cap of $375.73 million, a P/E ratio of -3.36 and a beta of 1.08.

Institutional Investors Weigh In On Annexon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANNX. State Street Corp lifted its stake in Annexon by 116.6% in the third quarter. State Street Corp now owns 3,841,879 shares of the company's stock valued at $22,744,000 after buying an additional 2,068,294 shares during the last quarter. Sio Capital Management LLC purchased a new stake in shares of Annexon during the third quarter worth approximately $8,484,000. Charles Schwab Investment Management Inc. raised its stake in shares of Annexon by 221.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 732,216 shares of the company's stock worth $4,335,000 after purchasing an additional 504,656 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Annexon by 146.4% during the second quarter. Dimensional Fund Advisors LP now owns 822,605 shares of the company's stock worth $4,030,000 after purchasing an additional 488,692 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Annexon by 18.3% during the third quarter. Geode Capital Management LLC now owns 2,143,635 shares of the company's stock worth $12,693,000 after purchasing an additional 331,269 shares during the last quarter.

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.