Annexon Target of Unusually Large Options Trading (NASDAQ:ANNX)

Annexon, Inc. (NASDAQ:ANNX) was the recipient of some unusual options trading activity on Thursday. Traders acquired 8,314 put options on the stock. This is an increase of approximately 4,762% compared to the average daily volume of 171 put options.

Annexon Price Performance

Shares of ANNX opened at $2.80 on Friday. The firm has a market capitalization of $307.19 million, a PE ratio of -2.37 and a beta of 1.30. Annexon has a 1-year low of $1.29 and a 1-year high of $7.85. The company’s fifty day moving average price is $2.27 and its 200-day moving average price is $2.78.

Annexon (NASDAQ:ANNX) last announced 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, research analysts anticipate that Annexon will post -0.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ANNX has been the subject of a number of recent research reports. HC Wainwright reduced their price objective on shares of Annexon from $20.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, May 14th. Needham & Company LLC reduced their price objective on shares of Annexon from $16.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th.

Institutional Investors Weigh In On Annexon

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sphera Funds Management LTD. purchased a new stake in shares of Annexon during the 4th quarter worth about $6,377,000. Ameriprise Financial Inc. boosted its stake in shares of 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 acquiring an additional 767,869 shares in the last quarter. TFG Asset Management GP Ltd boosted its stake in shares of 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 acquiring an additional 615,645 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 576,625 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Annexon during the 1st quarter worth about $670,000.

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.