Annexon, Inc. (NASDAQ:ANNX – Get Rating) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,680,000 shares, a growth of 20.9% from the February 13th total of 1,390,000 shares. Approximately 5.5% of the shares of the company are short sold. Based on an average daily volume of 407,500 shares, the days-to-cover ratio is presently 4.1 days.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on ANNX shares. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Annexon in a research report on Tuesday, March 7th. Needham & Company LLC restated a “buy” rating and set a $24.00 price objective on shares of Annexon in a research report on Tuesday, March 7th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $20.60.
Annexon Price Performance
Shares of Annexon stock opened at $4.35 on Monday. The business’s fifty day moving average price is $5.98 and its two-hundred day moving average price is $5.76. The company has a market capitalization of $219.63 million, a P/E ratio of -1.52 and a beta of 0.53. Annexon has a 1-year low of $2.06 and a 1-year high of $7.65.
Institutional Trading of Annexon
Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its stake in Annexon by 29.7% during the 4th quarter. Bank of America Corp DE now owns 8,938 shares of the company’s stock valued at $46,000 after acquiring an additional 2,049 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Annexon by 630.8% in the 1st quarter. Quantbot Technologies LP now owns 9,500 shares of the company’s stock worth $25,000 after buying an additional 8,200 shares in the last quarter. EWG Elevate Inc. bought a new stake in shares of Annexon in the 3rd quarter worth $62,000. Laurion Capital Management LP bought a new stake in shares of Annexon in the 2nd quarter worth $48,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Annexon in the 1st quarter worth $41,000.
Annexon Company Profile
Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune, neurodegenerative, and ophthalmic disorders. The company's C1q is an initiating molecule of the classical complement pathway that targets distinct disease processes, such as antibody-mediated autoimmune disease and complement-mediated neurodegeneration.
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