Annexon, Inc. (NASDAQ:ANNX) Sees Significant Growth in Short Interest

Annexon, Inc. (NASDAQ:ANNX) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 8,980,000 shares, a growth of 23.7% from the December 15th total of 7,260,000 shares. Based on an average daily volume of 1,340,000 shares, the days-to-cover ratio is currently 6.7 days.

Annexon Trading Up 1.1 %

Shares of NASDAQ:ANNX traded up $0.05 on Friday, hitting $4.16. The company had a trading volume of 562,272 shares, compared to its average volume of 1,452,545. The company has a market cap of $442.88 million, a PE ratio of -3.95 and a beta of 1.11. The business has a 50 day moving average of $5.24 and a 200 day moving average of $5.92. Annexon has a 52-week low of $3.86 and a 52-week high of $8.40.

Hedge Funds Weigh In On Annexon

Several institutional investors and hedge funds have recently modified their holdings of the company. Sandia Investment Management LP acquired a new position in Annexon in the second quarter valued at $49,000. Victory Capital Management Inc. purchased a new stake in Annexon during the second quarter worth approximately $51,000. Quarry LP acquired a new stake in shares of Annexon in the third quarter worth $118,000. Intech Investment Management LLC acquired a new position in shares of Annexon during the 3rd quarter valued at $154,000. Finally, Maven Securities LTD purchased a new stake in Annexon during the 2nd quarter worth approximately $170,000.

Analysts Set New Price Targets

Several research firms have recently commented on ANNX. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Annexon in a research note on Tuesday, December 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Friday, November 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price objective on shares of Annexon in a report on Friday, November 15th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $15.80.

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.