Annexon, Inc. (NASDAQ:ANNX) Short Interest Update

Annexon, Inc. (NASDAQ:ANNX) saw a significant increase in short interest in December. As of December 31st, there was short interest totaling 16,284,598 shares, an increase of 33.4% from the December 15th total of 12,204,357 shares. Currently, 15.6% of the shares of the company are sold short. Based on an average trading volume of 2,721,550 shares, the short-interest ratio is currently 6.0 days. Based on an average trading volume of 2,721,550 shares, the short-interest ratio is currently 6.0 days. Currently, 15.6% of the shares of the company are sold short.

Insider Activity at Annexon

In other Annexon news, Director Muneer A. Satter acquired 500,000 shares of Annexon stock in a transaction on Wednesday, November 19th. The stock was purchased at an average price of $3.94 per share, for a total transaction of $1,970,000.00. Following the purchase, the director directly owned 8,906,024 shares of the company’s stock, valued at $35,089,734.56. This trade represents a 5.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jung Choi bought 33,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were acquired at an average cost of $4.19 per share, with a total value of $138,270.00. Following the completion of the transaction, the director owned 33,000 shares in the company, valued at approximately $138,270. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 1,867,958 shares of company stock valued at $7,256,150. 11.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Annexon

Several hedge funds have recently made changes to their positions in ANNX. Woodline Partners LP lifted its holdings in Annexon by 150.4% during the 3rd quarter. Woodline Partners LP now owns 2,638,275 shares of the company’s stock worth $8,047,000 after purchasing an additional 1,584,566 shares in the last quarter. Sio Capital Management LLC increased its position in shares of Annexon by 20.5% during the second quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock valued at $9,830,000 after buying an additional 697,978 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Annexon by 8.7% in the third quarter. Vanguard Group Inc. now owns 5,835,112 shares of the company’s stock worth $17,797,000 after buying an additional 469,073 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Annexon by 39.9% in the second quarter. Bank of America Corp DE now owns 1,452,795 shares of the company’s stock worth $3,487,000 after buying an additional 414,071 shares in the last quarter. Finally, Rhenman & Partners Asset Management AB boosted its position in shares of Annexon by 78.9% in the third quarter. Rhenman & Partners Asset Management AB now owns 823,000 shares of the company’s stock valued at $2,510,000 after acquiring an additional 363,000 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ANNX shares. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a research note on Wednesday, October 8th. Chardan Capital began coverage on shares of Annexon in a research note on Tuesday, December 23rd. They set a “buy” rating and a $16.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on Annexon from $14.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, November 19th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Annexon has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Annexon Stock Down 1.5%

Shares of NASDAQ:ANNX opened at $6.07 on Friday. The firm has a market capitalization of $726.15 million, a PE ratio of -4.30 and a beta of 1.19. Annexon has a twelve month low of $1.28 and a twelve month high of $6.83. The company has a 50-day moving average price of $4.67 and a two-hundred day moving average price of $3.37.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.03). Analysts anticipate that Annexon will post -0.96 earnings per share for the current fiscal year.

About Annexon

Annexon Inc is a clinical-stage biotechnology company focused on the discovery and development of complement-targeted therapies for patients with neurodegenerative and neuroimmune diseases. The company’s research platform centers on the inhibition of the C1 complex, a key initiator of the classical complement pathway implicated in several rare and life-threatening disorders. By selectively targeting upstream complement activation, Annexon aims to prevent the aberrant immune-mediated damage that characterizes conditions such as Guillain-Barré syndrome (GBS) and autoimmune neuropathies.

At the core of Annexon’s pipeline is ANX005, a humanized monoclonal antibody directed against the C1q subcomponent, currently in Phase 2 clinical trials for acute GBS and chronic neurodegenerative indications.