Annexon, Inc. (NASDAQ:ANNX) Short Interest Up 23.7% in January

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

Annexon Stock Performance

NASDAQ ANNX traded down $0.06 on Thursday, reaching $4.06. The company had a trading volume of 56,598 shares, compared to its average volume of 1,425,147. The company’s fifty day moving average is $4.87 and its 200-day moving average is $5.87. The firm has a market capitalization of $433.18 million, a price-to-earnings ratio of -3.89 and a beta of 1.11. Annexon has a 1-year low of $3.82 and a 1-year high of $8.40.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ANNX. State Street Corp raised its position in 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 last quarter. Sio Capital Management LLC acquired a new stake in shares of Annexon in the third quarter valued at approximately $8,484,000. Charles Schwab Investment Management Inc. lifted its position in shares of Annexon by 221.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 732,216 shares of the company’s stock worth $4,335,000 after purchasing an additional 504,656 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Annexon by 146.4% in the second quarter. Dimensional Fund Advisors LP now owns 822,605 shares of the company’s stock worth $4,030,000 after purchasing an additional 488,692 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Annexon by 18.3% in the third quarter. Geode Capital Management LLC now owns 2,143,635 shares of the company’s stock valued at $12,693,000 after purchasing an additional 331,269 shares in the last quarter.

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.