Short Interest in Annexon, Inc. (NASDAQ:ANNX) Rises By 22.3%

Annexon, Inc. (NASDAQ:ANNX) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 7,140,000 shares, an increase of 22.3% from the July 15th total of 5,840,000 shares. Based on an average daily trading volume, of 2,740,000 shares, the short-interest ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ANNX. Wells Fargo & Company dropped their target price on shares of Annexon from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, May 15th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Wednesday, June 5th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price target on shares of Annexon in a research note on Tuesday. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Annexon in a research note on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $15.33.

Annexon Stock Performance

Shares of NASDAQ ANNX opened at $5.61 on Thursday. Annexon has a fifty-two week low of $1.57 and a fifty-two week high of $8.40. The company has a 50 day simple moving average of $5.50 and a two-hundred day simple moving average of $5.38. The company has a market capitalization of $518.44 million, a price-to-earnings ratio of -3.82 and a beta of 1.29.

Annexon (NASDAQ:ANNX) last announced its earnings results on Monday, August 12th. The company reported ($0.23) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.23). On average, analysts forecast that Annexon will post -0.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Annexon

A number of institutional investors have recently made changes to their positions in the company. Bain Capital Life Sciences Investors LLC grew its holdings in shares of Annexon by 8.0% during the first quarter. Bain Capital Life Sciences Investors LLC now owns 8,703,268 shares of the company’s stock valued at $62,402,000 after buying an additional 641,549 shares during the last quarter. BVF Inc. IL purchased a new stake in shares of Annexon during the fourth quarter valued at approximately $31,780,000. Point72 Asset Management L.P. boosted its holdings in Annexon by 16.1% in the second quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock worth $29,346,000 after purchasing an additional 832,617 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Annexon by 96.4% in the first quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock worth $26,871,000 after purchasing an additional 1,839,329 shares during the last quarter. Finally, Bellevue Group AG purchased a new stake in Annexon in the first quarter worth approximately $15,647,000.

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.