Short Interest in Annexon, Inc. (NASDAQ:ANNX) Increases By 33.4%

Annexon, Inc. (NASDAQ:ANNX) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 16,284,598 shares, a growth of 33.4% from the December 15th total of 12,204,357 shares. Based on an average trading volume of 2,721,550 shares, the short-interest ratio is currently 6.0 days. Approximately 15.6% of the shares of the company are sold short. Approximately 15.6% of the shares of the company are sold short. Based on an average trading volume of 2,721,550 shares, the short-interest ratio is currently 6.0 days.

Insider Buying and Selling at Annexon

In related news, Director Jung Choi bought 33,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were bought at an average cost of $4.19 per share, with a total value of $138,270.00. Following the acquisition, the director owned 33,000 shares in the company, valued at $138,270. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Muneer A. Satter bought 500,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were bought at an average price of $3.94 per share, for a total transaction of $1,970,000.00. Following the completion of the transaction, the director directly owned 8,906,024 shares of the company’s stock, valued at $35,089,734.56. This represents a 5.95% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 1,867,958 shares of company stock worth $7,256,150 in the last quarter. Corporate insiders own 11.87% of the company’s stock.

Institutional Investors Weigh In On Annexon

Hedge funds have recently made changes to their positions in the company. Woodline Partners LP grew its holdings in Annexon by 150.4% during the 3rd quarter. Woodline Partners LP now owns 2,638,275 shares of the company’s stock valued at $8,047,000 after buying an additional 1,584,566 shares in the last quarter. Sio Capital Management LLC raised its holdings in shares of Annexon by 20.5% during the 2nd quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock worth $9,830,000 after acquiring an additional 697,978 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Annexon by 8.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,835,112 shares of the company’s stock valued at $17,797,000 after acquiring an additional 469,073 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Annexon by 39.9% in the second quarter. Bank of America Corp DE now owns 1,452,795 shares of the company’s stock valued at $3,487,000 after purchasing an additional 414,071 shares in the last quarter. Finally, Rhenman & Partners Asset Management AB increased its position in Annexon by 78.9% in the third quarter. Rhenman & Partners Asset Management AB now owns 823,000 shares of the company’s stock worth $2,510,000 after purchasing an additional 363,000 shares during the last quarter.

Annexon Price Performance

Annexon stock opened at $6.07 on Monday. Annexon has a 1 year low of $1.28 and a 1 year high of $6.83. The firm’s 50 day moving average price is $4.67 and its 200-day moving average price is $3.38. The stock has a market cap of $726.15 million, a P/E ratio of -4.30 and a beta of 1.19.

Annexon (NASDAQ:ANNX) last issued its earnings results on Monday, November 10th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). As a group, equities analysts expect that Annexon will post -0.96 EPS for the current year.

Wall Street Analyst Weigh In

ANNX has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on Annexon from $14.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, November 19th. Chardan Capital assumed coverage on shares of Annexon in a research note on Tuesday, December 23rd. They set a “buy” rating and a $16.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Annexon Company Profile

Annexon Inc is a clinical-stage biotechnology company focused on the discovery and development of complement-targeted therapies for patients with neurodegenerative and neuroimmune diseases. The company’s research platform centers on the inhibition of the C1 complex, a key initiator of the classical complement pathway implicated in several rare and life-threatening disorders. By selectively targeting upstream complement activation, Annexon aims to prevent the aberrant immune-mediated damage that characterizes conditions such as Guillain-Barré syndrome (GBS) and autoimmune neuropathies.

At the core of Annexon’s pipeline is ANX005, a humanized monoclonal antibody directed against the C1q subcomponent, currently in Phase 2 clinical trials for acute GBS and chronic neurodegenerative indications.