Annexon, Inc. (NASDAQ:ANNX) Short Interest Up 13.2% in July

Annexon, Inc. (NASDAQ:ANNX) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 5,840,000 shares, a growth of 13.2% from the June 30th total of 5,160,000 shares. Based on an average daily volume of 2,900,000 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Trading of Annexon

Several large investors have recently modified their holdings of ANNX. SG Americas Securities LLC boosted its holdings in shares of Annexon by 14.1% during the 4th quarter. SG Americas Securities LLC now owns 25,335 shares of the company’s stock worth $115,000 after buying an additional 3,123 shares during the period. Tower Research Capital LLC TRC raised its stake in Annexon by 53.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company’s stock valued at $54,000 after purchasing an additional 4,141 shares during the last quarter. Bain Capital Life Sciences Investors LLC raised its stake in Annexon by 41.4% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company’s stock valued at $36,600,000 after purchasing an additional 2,359,793 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new position in Annexon during the 4th quarter valued at $306,000. Finally, BVF Inc. IL acquired a new position in Annexon during the 4th quarter valued at $31,780,000.

Wall Street Analyst Weigh In

ANNX has been the subject of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Annexon in a research report on Tuesday, June 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Wednesday, June 5th. Wells Fargo & Company reduced their price objective on Annexon from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, May 15th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price objective on shares of Annexon in a research note on Tuesday, June 4th. Finally, JPMorgan Chase & Co. increased their price objective on Annexon from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $15.33.

Annexon Stock Performance

Shares of Annexon stock traded up $0.21 during trading on Monday, hitting $6.45. 1,209,107 shares of the stock traded hands, compared to its average volume of 2,130,904. The stock has a market cap of $596.04 million, a P/E ratio of -4.32 and a beta of 1.29. Annexon has a twelve month low of $1.57 and a twelve month high of $8.40. The company has a fifty day moving average price of $5.30 and a two-hundred day moving average price of $5.26.

Annexon (NASDAQ:ANNX) last posted its earnings results on Monday, May 13th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.11. On average, equities research analysts expect that Annexon will post -0.98 EPS for the current fiscal year.

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.