Short Interest in Annexon, Inc. (NASDAQ:ANNX) Rises By 44.2%

Annexon, Inc. (NASDAQ:ANNX - Get Free Report) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 3,590,000 shares, a growth of 44.2% from the March 15th total of 2,490,000 shares. Based on an average daily trading volume, of 1,570,000 shares, the short-interest ratio is presently 2.3 days.

Insider Buying and Selling

In other Annexon news, CEO Douglas Love sold 5,782 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $5.54, for a total value of $32,032.28. Following the transaction, the chief executive officer now directly owns 196,121 shares of the company's stock, valued at approximately $1,086,510.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 8,940 shares of company stock valued at $49,514. Company insiders own 19.11% of the company's stock.

Hedge Funds Weigh In On Annexon

Hedge funds and other institutional investors have recently made changes to their positions in the company. BVF Inc. IL bought a new position in Annexon in the fourth quarter valued at approximately $31,780,000. Bain Capital Life Sciences Investors LLC boosted its holdings in shares of Annexon by 41.4% in 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 in the last quarter. BlackRock Inc. increased its stake in shares of Annexon by 199.7% in the 2nd quarter. BlackRock Inc. now owns 3,479,896 shares of the company's stock valued at $12,249,000 after purchasing an additional 2,318,780 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Annexon by 50.7% during the 1st quarter. Federated Hermes Inc. now owns 3,052,651 shares of the company's stock worth $8,334,000 after buying an additional 1,027,051 shares in the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in shares of Annexon during the 3rd quarter worth $2,306,000.

Annexon Price Performance

ANNX stock traded down $0.09 during midday trading on Friday, reaching $5.98. The company had a trading volume of 1,300,966 shares, compared to its average volume of 1,514,129. Annexon has a 1-year low of $1.57 and a 1-year high of $8.40. The stock has a 50 day moving average price of $5.78 and a 200-day moving average price of $3.97. The company has a market capitalization of $538.38 million, a price-to-earnings ratio of -3.36 and a beta of 1.14.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Annexon in a report on Thursday. HC Wainwright restated a "buy" rating and issued a $30.00 price target on shares of Annexon in a research note on Wednesday, March 27th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Annexon in a research report on Wednesday, April 3rd. Bank of America boosted their price objective on shares of Annexon from $7.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, March 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of Annexon from $11.00 to $13.00 and gave the stock an "overweight" rating in a report on Monday, April 1st. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $14.43.

About Annexon

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune, neurodegenerative, and ophthalmic disorders. The company's C1q is an initiating molecule of the classical complement pathway that targets distinct disease processes, such as antibody-mediated autoimmune disease and complement-mediated neurodegeneration.