Short Interest in Annexon, Inc. (NASDAQ:ANNX) Declines By 8.1%

Annexon, Inc. (NASDAQ:ANNX) was the recipient 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 daily volume of 1,350,000 shares, the days-to-cover ratio is currently 5.3 days.

Insider Buying and Selling

In other news, EVP Ted Yednock sold 4,500 shares of Annexon stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $7.10, for a total value of $31,950.00. Following the transaction, the executive vice president now owns 71,365 shares of the company’s stock, valued at $506,691.50. The trade was a 5.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 15,408 shares of company stock worth $103,043 in the last three months. 12.67% of the stock is owned by insiders.

Institutional Investors Weigh In On Annexon

A number of large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in Annexon by 10,482.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,323,704 shares of the company’s stock valued at $9,492,000 after acquiring an additional 1,311,195 shares during the period. Vanguard Group Inc. raised its holdings in shares of Annexon by 96.4% during the first 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 last quarter. Point72 Asset Management L.P. boosted its holdings in Annexon by 16.1% in the second quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock valued at $29,346,000 after purchasing an additional 832,617 shares during the last quarter. Point72 Europe London LLP purchased a new stake in Annexon in the second quarter valued at $1,150,000. Finally, Mutual of America Capital Management LLC acquired a new stake in Annexon during the 2nd quarter worth about $3,134,000.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ANNX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Annexon in a report on Friday, November 15th. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Annexon in a research note on Friday, November 15th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research report on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $15.80.

Annexon Stock Performance

Annexon stock opened at $5.27 on Tuesday. The business’s 50-day simple moving average is $6.59 and its two-hundred day simple moving average is $5.97. The company has a market cap of $561.75 million, a PE ratio of -5.02 and a beta of 1.23. Annexon has a fifty-two week low of $2.27 and a fifty-two week high of $8.40.

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.