Annexon, Inc. (NASDAQ:ANNX) Sees Large Decrease in Short Interest

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

Analyst Ratings Changes

A number of research analysts have issued reports on ANNX shares. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Annexon in a research note on Friday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research report on Friday. Finally, Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Annexon in a report on Friday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $15.80.

Insiders Place Their Bets

In other news, EVP Ted Yednock sold 5,408 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total value of $40,073.28. Following the completion of the transaction, the executive vice president now owns 71,365 shares of the company’s stock, valued at $528,814.65. The trade was a 7.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 20,908 shares of company stock worth $135,768. Company insiders own 12.67% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ANNX. Price T Rowe Associates Inc. MD grew 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 purchasing an additional 1,311,195 shares during the period. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 1,839,329 shares during the last quarter. Point72 Europe London LLP bought a new position in shares of Annexon during the 2nd quarter worth approximately $1,150,000. Point72 Asset Management L.P. increased its holdings in shares of Annexon by 16.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock worth $29,346,000 after acquiring an additional 832,617 shares during the last quarter. Finally, Bellevue Group AG bought a new stake in Annexon in the 1st quarter valued at $15,647,000.

Annexon Trading Down 3.3 %

Shares of ANNX stock opened at $6.12 on Monday. The firm’s fifty day moving average price is $6.91 and its two-hundred day moving average price is $5.92. Annexon has a 1 year low of $2.27 and a 1 year high of $8.40. The firm has a market capitalization of $646.58 million, a P/E ratio of -5.83 and a beta of 1.23.

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.