Annexon Sees Unusually Large Options Volume (NASDAQ:ANNX)

Annexon, Inc. (NASDAQ:ANNX - Get Free Report) was the target of some unusual options trading on Thursday. Stock traders acquired 8,314 put options on the stock. This represents an increase of approximately 4,762% compared to the typical volume of 171 put options.

Analysts Set New Price Targets

ANNX has been the subject of several research analyst reports. Needham & Company LLC cut their price target on Annexon from $16.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. HC Wainwright cut their price target on Annexon from $20.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, May 14th.

Annexon Price Performance

Shares of Annexon stock traded up $0.03 on Thursday, reaching $2.80. The company had a trading volume of 7,987,256 shares, compared to its average volume of 1,486,789. The firm has a market cap of $307.19 million, a price-to-earnings ratio of -2.37 and a beta of 1.30. The firm's 50-day moving average price is $2.27 and its two-hundred day moving average price is $2.78. Annexon has a 1 year low of $1.29 and a 1 year high of $7.85.

Annexon (NASDAQ:ANNX - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.37) EPS for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.07). As a group, analysts anticipate that Annexon will post -0.96 EPS for the current year.

Hedge Funds Weigh In On Annexon

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new position in Annexon during the 4th quarter valued at $59,000. Legal & General Group Plc boosted its holdings in Annexon by 516.7% during the 4th quarter. Legal & General Group Plc now owns 85,535 shares of the company's stock valued at $439,000 after acquiring an additional 71,665 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Annexon during the 4th quarter valued at $252,000. Nuveen Asset Management LLC boosted its holdings in Annexon by 6.5% during the 4th quarter. Nuveen Asset Management LLC now owns 2,720,485 shares of the company's stock valued at $13,956,000 after acquiring an additional 164,915 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in Annexon during the 4th quarter valued at $177,000.

About Annexon

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.