Short interest in Annexon, Inc. (NASDAQ:ANNX) up 22.3%

Annexon, Inc. (NASDAQ:ANNX – Get Free Report ) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totaling 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 rate is currently 2.6 days.

Analyst upgrades and downgrades

A number of research firms 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 target price on shares of Annexon in a research note on Tuesday. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Annexon in a research note on Tuesday. Six equities research analysts have rated the stock with a buy rating. The stock has an average rating of “Buy” and a consensus price target of $15.33, according to MarketBeat .

Check out our latest report on ANNX

Stock performance attached

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 cap of $518.44 million, a price-to-earnings ratio of -3.82 and a beta of 1.29.

Annexon (NASDAQ:ANNX – Get Free Report ) 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 expect that Annexon will post -0.98 earnings per share for the current fiscal year.

Institutional investors intervene on the annex

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

Annexon Company Profile

(Get a free report)

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops drugs to treat inflammatory diseases. Its lead candidate is ANX005, a full-length monoclonal antibody, which is in phase 3 clinical trial for the treatment of patients with Guillain-Barré syndrome; completed the phase II clinical trial for the treatment of Huntington’s disease; and in the phase II clinical trial for the treatment of amyotrophic lateral sclerosis.

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