Annexon Sees Unusually High Options Volume (NASDAQ:ANNX)

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

Institutional Investors Weigh In On Annexon

Institutional investors and hedge funds have recently modified their holdings of the business. Sphera Funds Management LTD. purchased a new position in Annexon during the 4th quarter worth $6,377,000. Ameriprise Financial Inc. increased its holdings in Annexon by 483.6% during the 4th quarter. Ameriprise Financial Inc. now owns 926,642 shares of the company's stock worth $4,754,000 after purchasing an additional 767,869 shares during the period. TFG Asset Management GP Ltd increased its holdings 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 worth $7,182,000 after purchasing an additional 615,645 shares during the period. Vanguard Group Inc. increased its holdings in Annexon by 11.6% during the 4th quarter. Vanguard Group Inc. now owns 5,546,918 shares of the company's stock worth $28,456,000 after purchasing an additional 576,625 shares during the period. Finally, Nuveen LLC purchased a new position in Annexon during the 1st quarter worth $670,000.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ANNX. Needham & Company LLC lowered their price objective on Annexon from $16.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. HC Wainwright lowered their price objective on Annexon from $20.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th.

Annexon Trading Down 7.9%

Shares of ANNX stock traded down $0.22 on Friday, reaching $2.58. 1,585,253 shares of the company's stock were exchanged, compared to its average volume of 1,480,715. Annexon has a 52 week low of $1.29 and a 52 week high of $7.85. The stock has a market capitalization of $283.05 million, a PE ratio of -2.19 and a beta of 1.30. The company's fifty day simple moving average is $2.29 and its 200 day simple moving average is $2.73.

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

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.