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Is Annexon Inc. (NASDAQ) Bullish Or Bearish In 2022?

Annexon Inc. (NASDAQ:ANNX) shares, rose in value on Friday, 05/13/22, with the stock price down by -1.22% to the previous day’s close as strong demand from buyers drove the stock to $3.25.

Actively observing the price movement in the last trading, the stock closed the session at $3.29, falling within a range of $3.21 and $3.58. Referring to stock’s 52-week performance, its high was $24.85, and the low was $2.06. On the whole, ANNX has fluctuated by 31.05% over the past month.

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With the market capitalization of Annexon Inc. currently standing at about $127.76 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 23, 2022 – Mar 28, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.93, which is expected to increase to -$0.89 for fiscal year -$3.35 and then to about -$3.7 by fiscal year 2022. Data indicates that the EPS growth is expected to be 11.40% in 2022, while the next year’s EPS growth is forecast to be -10.40%.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ANNX’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of ANNX currently trading nearly 23.50% and 4.61% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 58.66, while the 7-day volatility ratio is showing 13.81% which for the 30-day chart, stands at 10.80%. Furthermore, Annexon Inc. (ANNX)’s average true range (ATR) is 0.29.

Data on historical trading for Annexon Inc. (NASDAQ:ANNX) indicates that the trading volumes over the past 10 days have averaged 0.68 million and over the past 3 months, they’ve averaged 582.60K. According to company’s latest data on outstanding shares, there are 38.48 million shares outstanding.

The data on short interest also indicates that stock shorts accounted for 2.09 million shares as on Jan 13, 2022, resulting in a short ratio of 3.36. According to the data, the short interest in Annexon Inc. (ANNX) stood at 5.45% of shares outstanding as of Jan 13, 2022; the number of short shares registered in Dec 14, 2021 reached 1.56 million. The stock has fallen by -71.71% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ANNX stock heading into the next quarter.

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