Short Interest in Annexon, Inc. (NASDAQ:ANNX) Grows By 8.3%

Annexon, Inc. (NASDAQ:ANNX) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 10,090,000 shares, an increase of 8.3% from the January 15th total of 9,320,000 shares. Based on an average trading volume of 1,420,000 shares, the short-interest ratio is presently 7.1 days.

Annexon Price Performance

Shares of ANNX opened at $3.07 on Monday. The stock’s 50-day moving average is $4.45 and its two-hundred day moving average is $5.65. The stock has a market cap of $327.23 million, a PE ratio of -2.92 and a beta of 1.07. Annexon has a 12 month low of $2.87 and a 12 month high of $8.40.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ANNX. 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 price objective 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 price objective 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 MarketBeat.com, Annexon presently has an average rating of “Buy” and an average target price of $15.80.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. FMR LLC lifted its stake in shares of Annexon by 3.2% in the third quarter. FMR LLC now owns 8,561,949 shares of the company’s stock worth $50,687,000 after acquiring an additional 262,229 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Annexon by 11.6% in the fourth quarter. Vanguard Group Inc. now owns 5,546,918 shares of the company’s stock worth $28,456,000 after acquiring an additional 576,625 shares in the last quarter. State Street Corp lifted its stake in shares of Annexon by 116.6% in the third 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 in the last quarter. Candriam S.C.A. lifted its stake in shares of Annexon by 15.6% in the fourth quarter. Candriam S.C.A. now owns 2,534,230 shares of the company’s stock worth $13,001,000 after acquiring an additional 341,431 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Annexon by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,171,478 shares of the company’s stock worth $11,142,000 after acquiring an additional 27,843 shares in the last quarter.

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.