Annexon, Inc. (NASDAQ:ANNX) Short Interest Up 8.3% in January

Annexon, Inc. (NASDAQ:ANNX) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 10,090,000 shares, a growth of 8.3% from the January 15th total of 9,320,000 shares. Based on an average trading volume of 1,420,000 shares, the days-to-cover ratio is presently 7.1 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ANNX. JPMorgan Chase & Co. increased its position in shares of Annexon by 16.0% in the third quarter. JPMorgan Chase & Co. now owns 1,706,182 shares of the company’s stock worth $10,101,000 after purchasing an additional 235,810 shares during the period. Geode Capital Management LLC increased its position in shares of Annexon by 18.3% in the third quarter. Geode Capital Management LLC now owns 2,143,635 shares of the company’s stock worth $12,693,000 after purchasing an additional 331,269 shares during the period. Barclays PLC increased its position in shares of Annexon by 212.0% in the third quarter. Barclays PLC now owns 177,765 shares of the company’s stock worth $1,052,000 after purchasing an additional 120,789 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Annexon by 221.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 732,216 shares of the company’s stock worth $4,335,000 after purchasing an additional 504,656 shares during the period. Finally, FMR LLC increased its position in shares of Annexon by 3.2% in the third quarter. FMR LLC now owns 8,561,949 shares of the company’s stock worth $50,687,000 after purchasing an additional 262,229 shares during the period.

Annexon Stock Up 2.0 %

ANNX traded up $0.06 during trading hours on Friday, reaching $3.07. The company’s stock had a trading volume of 844,841 shares, compared to its average volume of 1,545,777. Annexon has a 52 week low of $2.87 and a 52 week high of $8.40. The company’s 50-day moving average is $4.45 and its 200-day moving average is $5.66.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Annexon in a research note on Tuesday, December 17th. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price target on shares of Annexon in a research report on Friday, November 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research report on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $15.80.

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.