Annexon, Inc. (NASDAQ:ANNX - Get Free Report) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 8,980,000 shares, an increase of 23.7% from the December 15th total of 7,260,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is presently 6.7 days.
A number of analysts have commented on the stock. HC Wainwright reaffirmed a "buy" rating and set a $30.00 target price on shares of Annexon in a report on Tuesday, December 17th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Annexon in a report on Friday, November 15th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $16.00 target price on shares of Annexon in a research report on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $15.80.
View Our Latest Stock Analysis on ANNX
NASDAQ:ANNX opened at $4.24 on Thursday. The business's 50-day moving average is $5.31 and its 200 day moving average is $5.93. Annexon has a 12 month low of $3.86 and a 12 month high of $8.40. The company has a market capitalization of $451.96 million, a P/E ratio of -4.04 and a beta of 1.11.
Several hedge funds have recently modified their holdings of ANNX. Sandia Investment Management LP purchased a new position in shares of Annexon in the second quarter valued at $49,000. Victory Capital Management Inc. purchased a new position in shares of Annexon in the 2nd quarter worth $51,000. Quarry LP bought a new stake in shares of Annexon in the 3rd quarter worth about $118,000. Intech Investment Management LLC purchased a new stake in shares of Annexon during the 3rd quarter valued at about $154,000. Finally, Maven Securities LTD purchased a new position in Annexon in the second quarter worth about $170,000.
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.
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