Stock Traders Buy Large Volume of Put Options on Annexon (NASDAQ:ANNX)

Annexon, Inc. (NASDAQ:ANNX - Get Free Report) saw unusually large options trading activity on Thursday. Stock traders purchased 8,314 put options on the company. This is an increase of 4,762% compared to the average daily volume of 171 put options.

Institutional Trading of Annexon

A number of institutional investors and hedge funds have recently bought and sold shares of ANNX. Alpine Global Management LLC purchased a new stake in shares of Annexon during the first quarter valued at approximately $49,000. Forefront Analytics LLC boosted its stake in Annexon by 74.0% during the 1st quarter. Forefront Analytics LLC now owns 28,591 shares of the company's stock valued at $55,000 after purchasing an additional 12,158 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Annexon in the 4th quarter worth $59,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Annexon by 164.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,026 shares of the company's stock worth $66,000 after purchasing an additional 21,143 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Annexon by 19.9% during the first quarter. Hsbc Holdings PLC now owns 36,935 shares of the company's stock valued at $73,000 after purchasing an additional 6,136 shares in the last quarter.

Annexon Trading Down 8.0%

ANNX traded down $0.23 during midday trading on Friday, reaching $2.58. The company's stock had a trading volume of 1,418,130 shares, compared to its average volume of 1,487,173. The stock's 50-day moving average is $2.27 and its 200-day moving average is $2.78. Annexon has a 1 year low of $1.29 and a 1 year high of $7.85. The firm has a market capitalization of $282.50 million, a price-to-earnings ratio of -2.18 and a beta of 1.30.

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

Analyst Ratings Changes

Several analysts have weighed in on ANNX shares. Needham & Company LLC cut their price objective on Annexon from $16.00 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. HC Wainwright dropped their price target on Annexon from $20.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th.

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.