Short Interest in Annexon, Inc. (NASDAQ:ANNX) Drops By 25.9%

Annexon, Inc. (NASDAQ:ANNX - Get Free Report) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 8,240,000 shares, a drop of 25.9% from the March 15th total of 11,120,000 shares. Currently, 8.9% of the company's stock are sold short. Based on an average daily volume of 1,630,000 shares, the days-to-cover ratio is presently 5.1 days.

Annexon Trading Up 4.3 %

NASDAQ ANNX traded up $0.08 on Wednesday, hitting $1.84. 332,840 shares of the stock traded hands, compared to its average volume of 1,818,596. The stock has a 50-day moving average of $2.23 and a 200 day moving average of $4.34. Annexon has a twelve month low of $1.29 and a twelve month high of $7.85. The company has a market capitalization of $201.32 million, a P/E ratio of -1.75 and a beta of 1.24.

Annexon (NASDAQ:ANNX - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.05). As a group, equities research analysts expect that Annexon will post -0.96 earnings per share for the current year.

Institutional Trading of Annexon

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. increased its position in Annexon by 11.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 477,567 shares of the company's stock valued at $922,000 after acquiring an additional 47,983 shares during the period. Wellington Management Group LLP boosted its stake in Annexon by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 268,166 shares of the company's stock valued at $1,376,000 after purchasing an additional 4,806 shares in the last quarter. California State Teachers Retirement System boosted its stake in Annexon by 849.0% during the 4th quarter. California State Teachers Retirement System now owns 66,375 shares of the company's stock valued at $341,000 after purchasing an additional 59,381 shares in the last quarter. TFG Asset Management GP Ltd boosted its stake in Annexon by 78.5% during the 4th quarter. TFG Asset Management GP Ltd now owns 1,400,000 shares of the company's stock valued at $7,182,000 after purchasing an additional 615,645 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Annexon during the 4th quarter valued at $252,000.

Analyst Ratings Changes

Separately, Needham & Company LLC reaffirmed a "buy" rating and issued a $16.00 target price on shares of Annexon in a research report on Tuesday, March 4th.

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.