Short Interest in Annexon, Inc. (NASDAQ:ANNX) Increases By 8.3%

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Annexon in a research note on Tuesday, December 17th. 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a report on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Annexon has an average rating of “Buy” and an average price target of $15.80.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of Annexon by 16.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,706,182 shares of the company’s stock valued at $10,101,000 after purchasing an additional 235,810 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Annexon by 18.3% during the 3rd 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. Barclays PLC grew its position in Annexon by 212.0% in the third quarter. Barclays PLC now owns 177,765 shares of the company’s stock worth $1,052,000 after acquiring an additional 120,789 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 acquiring an additional 504,656 shares in the last quarter. Finally, FMR LLC grew its position in 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 in the last quarter.

Annexon Price Performance

Shares of ANNX stock opened at $3.07 on Tuesday. The company’s fifty day simple moving average is $4.41 and its two-hundred day simple moving average is $5.63. Annexon has a 1 year low of $2.87 and a 1 year high of $8.40. The stock has a market capitalization of $327.23 million, a price-to-earnings ratio of -2.92 and a beta of 1.07.

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.