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

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

Institutional Trading of Annexon

A number of institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in Annexon by 42.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 258,033 shares of the company’s stock valued at $1,264,000 after buying an additional 77,417 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Annexon by 54.5% during the second quarter. Rhumbline Advisers now owns 126,659 shares of the company’s stock worth $621,000 after acquiring an additional 44,681 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Annexon during the second quarter valued at about $51,000. American Century Companies Inc. raised its position in shares of Annexon by 47.5% in the 2nd quarter. American Century Companies Inc. now owns 115,662 shares of the company’s stock valued at $567,000 after purchasing an additional 37,242 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Annexon by 37.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,064,801 shares of the company’s stock worth $5,218,000 after purchasing an additional 290,887 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently commented on ANNX shares. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Annexon in a research note on Tuesday, December 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Friday, November 15th. 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 investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $15.80.

Annexon Stock Down 6.4 %

Shares of ANNX opened at $4.24 on Thursday. The company has a 50 day moving average of $5.31 and a two-hundred day moving average of $5.93. Annexon has a twelve month low of $3.86 and a twelve month high of $8.40. The company has a market cap of $451.96 million, a price-to-earnings ratio of -4.04 and a beta of 1.11.

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.