Annexon, Inc. (NASDAQ:ANNX) Sees Large Decrease in Short Interest

Annexon, Inc. (NASDAQ:ANNX) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 7,770,000 shares, a decline of 12.9% from the October 15th total of 8,920,000 shares. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is presently 6.1 days.

Insider Buying and Selling at Annexon

In other news, EVP Ted Yednock sold 5,500 shares of Annexon stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $5.95, for a total value of $32,725.00. Following the completion of the sale, the executive vice president now directly owns 15,500 shares of the company’s stock, valued at approximately $92,225. The trade was a 26.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 20,908 shares of company stock valued at $135,768 over the last quarter. 12.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On Annexon

Several institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. boosted its holdings in shares of Annexon by 78.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock valued at $48,000 after buying an additional 2,949 shares in the last quarter. Sandia Investment Management LP purchased a new stake in Annexon during the 2nd quarter valued at approximately $49,000. Victory Capital Management Inc. purchased a new position in shares of Annexon in the 2nd quarter valued at approximately $51,000. Principal Financial Group Inc. acquired a new position in shares of Annexon in the second quarter valued at approximately $56,000. Finally, Comerica Bank purchased a new position in Annexon in the 1st quarter valued at $72,000.

Annexon Price Performance

Annexon stock opened at $6.12 on Friday. The stock’s fifty day moving average is $6.91 and its two-hundred day moving average is $5.92. The stock has a market cap of $646.58 million, a PE ratio of -4.98 and a beta of 1.23. Annexon has a 1-year low of $2.27 and a 1-year high of $8.40.

Analyst Upgrades and Downgrades

ANNX has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price target on shares of Annexon in a research note on Friday. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research report on Friday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Annexon in a research report on Friday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Annexon presently has a consensus rating of “Buy” and an average target price of $15.80.

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.