Short Interest in Annexon, Inc. (NASDAQ:ANNX) Expands By 15.3%

Annexon, Inc. (NASDAQ:ANNX) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 4,140,000 shares, a growth of 15.3% from the March 31st total of 3,590,000 shares. Based on an average daily trading volume, of 1,600,000 shares, the days-to-cover ratio is presently 2.6 days.

Wall Street Analyst Weigh In

ANNX has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Annexon from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Annexon in a research report on Wednesday, March 27th. Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Annexon in a research note on Thursday, April 11th. Wells Fargo & Company boosted their target price on shares of Annexon from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Wednesday, April 24th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $14.43.

Insiders Place Their Bets

In other Annexon news, CEO Douglas Love sold 5,782 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $5.54, for a total value of $32,032.28. Following the transaction, the chief executive officer now owns 196,121 shares in the company, valued at approximately $1,086,510.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 8,940 shares of company stock worth $49,514 in the last quarter. 19.11% of the stock is owned by corporate insiders.

Institutional Trading of Annexon

A number of institutional investors have recently made changes to their positions in ANNX. SG Americas Securities LLC acquired a new stake in shares of Annexon in the 3rd quarter worth approximately $52,000. Tower Research Capital LLC TRC lifted its stake in shares of Annexon by 53.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company’s stock worth $54,000 after acquiring an additional 4,141 shares during the period. Forefront Analytics LLC lifted its stake in shares of Annexon by 18.3% in the 3rd quarter. Forefront Analytics LLC now owns 31,680 shares of the company’s stock worth $75,000 after acquiring an additional 4,890 shares during the period. Virtu Financial LLC acquired a new stake in shares of Annexon in the 4th quarter worth approximately $221,000. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Annexon in the 4th quarter worth approximately $306,000.

Annexon Stock Down 3.2 %

Annexon stock opened at $4.55 on Wednesday. The firm has a 50-day moving average price of $5.65 and a two-hundred day moving average price of $4.22. The firm has a market capitalization of $414.69 million, a price-to-earnings ratio of -2.56 and a beta of 1.14. Annexon has a 52-week low of $1.57 and a 52-week high of $8.40.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings results on Tuesday, March 26th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.09. Research analysts expect that Annexon will post -1.36 earnings per share for the current year.

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.