Annexon, Inc. (NASDAQ:ANNX) Short Interest Down 8.1% in November

Annexon, Inc. (NASDAQ:ANNX) was the target of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 7,140,000 shares, a decrease of 8.1% from the October 31st total of 7,770,000 shares. Based on an average trading volume of 1,350,000 shares, the days-to-cover ratio is currently 5.3 days.

Insider Activity

In related news, EVP Ted Yednock sold 4,500 shares of Annexon stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $7.10, for a total transaction of $31,950.00. Following the sale, the executive vice president now directly owns 71,365 shares in the company, valued at $506,691.50. This trade represents a 5.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 15,408 shares of company stock worth $103,043. 12.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Annexon

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Annexon by 116.6% in the 3rd quarter. State Street Corp now owns 3,841,879 shares of the company’s stock valued at $22,744,000 after buying an additional 2,068,294 shares during the period. Candriam S.C.A. purchased a new stake in shares of Annexon during the 2nd quarter worth $10,061,000. Vanguard Group Inc. grew its stake in shares of Annexon by 96.4% during the 1st quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock worth $26,871,000 after purchasing an additional 1,839,329 shares during the period. Sio Capital Management LLC purchased a new position in shares of Annexon in the 3rd quarter valued at about $8,484,000. Finally, Marshall Wace LLP lifted its stake in shares of Annexon by 436.6% in the second quarter. Marshall Wace LLP now owns 1,693,665 shares of the company’s stock valued at $8,299,000 after purchasing an additional 1,378,053 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ANNX. Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of Annexon in a research report on Friday, November 15th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a report on Friday, November 15th. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Annexon in a research note on Friday, November 15th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $15.80.

Annexon Stock Performance

ANNX traded up $0.07 during trading on Wednesday, hitting $5.06. The stock had a trading volume of 326,040 shares, compared to its average volume of 1,798,259. The firm has a market capitalization of $539.35 million, a P/E ratio of -4.75 and a beta of 1.10. Annexon has a twelve month low of $2.27 and a twelve month high of $8.40. The company’s 50-day moving average price is $6.56 and its 200 day moving average price is $5.98.

Annexon Company Profile

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.