Annexon, Inc. (NASDAQ:ANNX) Short Interest Up 8.3% in January

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

Hedge Funds Weigh In On Annexon

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. 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 during the period. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 576,625 shares in the last quarter. State Street Corp increased its holdings in 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 purchasing an additional 2,068,294 shares in the last quarter. Candriam S.C.A. increased its holdings in 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 purchasing an additional 341,431 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in 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 purchasing an additional 27,843 shares in the last quarter.

Annexon Price Performance

Shares of Annexon stock traded up $0.06 during midday trading on Friday, reaching $3.07. The company had a trading volume of 844,841 shares, compared to its average volume of 1,545,777. The stock has a fifty day moving average price of $4.45 and a 200 day moving average price of $5.66. Annexon has a fifty-two week low of $2.87 and a fifty-two week high of $8.40.

Analysts Set New Price Targets

A number of analysts have recently commented on ANNX shares. Needham & Company LLC reissued a “buy” rating and set a $16.00 price target on shares of Annexon in a research note on Friday, November 15th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Friday, November 15th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Annexon in a research note on Tuesday, December 17th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Annexon currently has a consensus rating of “Buy” and a consensus target price of $15.80.

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.