Annexon Target of Unusually High Options Trading (NASDAQ:ANNX)

Annexon, Inc. (NASDAQ:ANNX – Get Rating) was the recipient of unusually large options trading on Thursday. Stock investors acquired 1,946 put options on the company. This represents an increase of 566% compared to the typical daily volume of 292 put options.

Institutional Trading of Annexon

A number of institutional investors and hedge funds have recently bought and sold shares of ANNX. Quantbot Technologies LP boosted its holdings in shares of Annexon by 630.8% during the 1st quarter. Quantbot Technologies LP now owns 9,500 shares of the company’s stock valued at $25,000 after acquiring an additional 8,200 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Annexon by 31.3% in the first quarter. Tower Research Capital LLC TRC now owns 7,992 shares of the company’s stock worth $31,000 after purchasing an additional 1,903 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Annexon in the 1st quarter worth approximately $41,000. 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 buying an additional 2,049 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Annexon during the 1st quarter valued at $46,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ANNX. BTIG Research decreased their target price on Annexon from $15.00 to $7.00 in a report on Thursday. JPMorgan Chase & Co. lowered shares of Annexon from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $19.00 to $9.00 in a report on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Annexon in a research note on Tuesday, March 7th. Needham & Company LLC reissued a “buy” rating and issued a $24.00 price target on shares of Annexon in a research note on Wednesday, April 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research report on Monday, May 15th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $16.67.

Annexon Stock Performance

Shares of ANNX opened at $2.10 on Friday. Annexon has a fifty-two week low of $2.07 and a fifty-two week high of $7.65. The firm’s 50-day simple moving average is $4.89 and its two-hundred day simple moving average is $5.43. The stock has a market cap of $111.48 million, a PE ratio of -0.85 and a beta of 0.48.

Annexon (NASDAQ:ANNX – Get Rating) last posted its quarterly earnings results on Monday, May 8th. The company reported ($0.52) earnings per share for the quarter, hitting the consensus estimate of ($0.52). Equities research analysts predict that Annexon will post -2.11 EPS for the current year.

About Annexon

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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.