Annexon (NASDAQ:ANNX) Trading Down 5.9% – Should You Sell?

by · The Cerbat Gem

Annexon, Inc. (NASDAQ:ANNX – Get Free Report)’s share price was down 5.9% on Thursday . The company traded as low as $6.28 and last traded at $6.2850. Approximately 965,390 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 2,825,871 shares. The stock had previously closed at $6.68.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company increased their price target on Annexon from $14.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, November 19th. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a report on Wednesday. Chardan Capital started coverage on shares of Annexon in a research note on Tuesday, December 23rd. They issued a “buy” rating and a $16.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Get Our Latest Stock Report on ANNX

Annexon Stock Down 1.5%

The stock has a market capitalization of $726.15 million, a PE ratio of -4.30 and a beta of 1.19. The firm has a 50 day moving average price of $4.67 and a 200-day moving average price of $3.37.

Annexon (NASDAQ:ANNX – Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.03). Equities analysts expect that Annexon, Inc. will post -0.96 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jung Choi bought 33,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were purchased at an average cost of $4.19 per share, with a total value of $138,270.00. Following the completion of the acquisition, the director directly owned 33,000 shares in the company, valued at approximately $138,270. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Muneer A. Satter purchased 422,613 shares of Annexon stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average price of $4.28 per share, with a total value of $1,808,783.64. Following the completion of the transaction, the director owned 9,728,637 shares of the company’s stock, valued at $41,638,566.36. This represents a 4.54% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 1,867,958 shares of company stock worth $7,256,150 over the last ninety days. 11.87% of the stock is owned by insiders.

Hedge Funds Weigh In On Annexon

Hedge funds have recently bought and sold shares of the business. CIBC Bancorp USA Inc. purchased a new stake in shares of Annexon in the third quarter valued at approximately $31,000. SG Americas Securities LLC purchased a new stake in Annexon in the 3rd quarter worth $34,000. Matauro LLC acquired a new position in Annexon during the second quarter worth $27,000. 49 Wealth Management LLC purchased a new position in Annexon during the second quarter valued at $29,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Annexon in the second quarter valued at about $29,000.

Annexon Company Profile

(Get Free Report)

Annexon Inc is a clinical-stage biotechnology company focused on the discovery and development of complement-targeted therapies for patients with neurodegenerative and neuroimmune diseases. The company’s research platform centers on the inhibition of the C1 complex, a key initiator of the classical complement pathway implicated in several rare and life-threatening disorders. By selectively targeting upstream complement activation, Annexon aims to prevent the aberrant immune-mediated damage that characterizes conditions such as Guillain-Barré syndrome (GBS) and autoimmune neuropathies.

At the core of Annexon’s pipeline is ANX005, a humanized monoclonal antibody directed against the C1q subcomponent, currently in Phase 2 clinical trials for acute GBS and chronic neurodegenerative indications.

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