Short Interest in Annexon, Inc. (NASDAQ:ANNX) Decreases By 8.1%

Annexon, Inc. (NASDAQ:ANNX) saw a large drop in short interest in November. As of November 15th, there was short interest totalling 7,140,000 shares, a drop of 8.1% from the October 31st total of 7,770,000 shares. Based on an average daily trading volume, of 1,350,000 shares, the days-to-cover ratio is currently 5.3 days.

Annexon Trading Up 0.9 %

Shares of Annexon stock opened at $5.39 on Monday. The firm has a market capitalization of $574.54 million, a price-to-earnings ratio of -5.13 and a beta of 1.23. Annexon has a 12-month low of $2.27 and a 12-month high of $8.40. The firm’s 50 day simple moving average is $6.61 and its two-hundred day simple moving average is $5.97.

Analyst Upgrades and Downgrades

ANNX has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Friday, November 15th. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Annexon in a research report on Friday, November 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Annexon in a research report on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $15.80.

Insider Activity at Annexon

In related news, EVP Ted Yednock sold 4,500 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $7.10, for a total value of $31,950.00. Following the completion of the sale, the executive vice president now directly owns 71,365 shares of the company’s stock, valued at $506,691.50. This represents a 5.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 15,408 shares of company stock worth $103,043 in the last 90 days. 12.67% of the stock is owned by corporate insiders.

Institutional Trading of Annexon

A number of hedge funds have recently modified their holdings of ANNX. Vanguard Group Inc. lifted its holdings in Annexon by 96.4% in the first quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock valued at $26,871,000 after acquiring an additional 1,839,329 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Annexon by 10,482.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,323,704 shares of the company’s stock worth $9,492,000 after buying an additional 1,311,195 shares in the last quarter. Comerica Bank acquired a new stake in Annexon during the first quarter valued at $72,000. DNB Asset Management AS increased its holdings in Annexon by 29.4% in the second quarter. DNB Asset Management AS now owns 46,485 shares of the company’s stock valued at $228,000 after buying an additional 10,574 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of Annexon in the second quarter worth about $944,000.

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.