Insider Buying: Annexon (NASDAQ:ANNX) Director Buys 4,115 Shares of Stock

Annexon, Inc. (NASDAQ:ANNX) Director William Carson acquired 4,115 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was bought at an average cost of $4.47 per share, with a total value of $18,394.05. Following the acquisition, the director owned 50,290 shares in the company, valued at approximately $224,796.30. This trade represents a 8.91% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Annexon Stock Performance

Annexon stock traded up $0.22 during midday trading on Wednesday, hitting $4.28. 1,765,808 shares of the company were exchanged, compared to its average volume of 1,800,560. The business has a fifty day simple moving average of $3.32 and a two-hundred day simple moving average of $2.72. The firm has a market capitalization of $512.02 million, a PE ratio of -3.04 and a beta of 1.20. Annexon, Inc. has a fifty-two week low of $1.28 and a fifty-two week high of $5.66.

Annexon (NASDAQ:ANNX) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.03). As a group, equities analysts expect that Annexon, Inc. will post -0.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ANNX. Nuveen LLC purchased a new stake in shares of Annexon during the first quarter worth $670,000. J. Safra Sarasin Holding AG boosted its position in Annexon by 49.9% during the second quarter. J. Safra Sarasin Holding AG now owns 381,441 shares of the company’s stock worth $915,000 after acquiring an additional 126,903 shares during the last quarter. Wellington Management Group LLP boosted its position in Annexon by 32.9% during the first quarter. Wellington Management Group LLP now owns 356,480 shares of the company’s stock worth $688,000 after acquiring an additional 88,314 shares during the last quarter. Sio Capital Management LLC grew its stake in Annexon by 20.5% during the 2nd quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock valued at $9,830,000 after acquiring an additional 697,978 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in Annexon by 65.4% in the 1st quarter. XTX Topco Ltd now owns 58,130 shares of the company’s stock valued at $112,000 after acquiring an additional 22,979 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently commented on ANNX. HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Annexon in a research report on Friday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, October 8th. Zacks Research upgraded Annexon from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Finally, Wells Fargo & Company lifted 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. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.33.

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.