William Carson Purchases 8,000 Shares of Annexon (NASDAQ:ANNX) Stock

Annexon, Inc. (NASDAQ:ANNX) Director William Carson bought 8,000 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were acquired at an average cost of $5.67 per share, for a total transaction of $45,360.00. Following the completion of the acquisition, the director directly owned 62,405 shares of the company’s stock, valued at $353,836.35. This trade represents a 14.70% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Annexon Stock Performance

Annexon stock opened at $5.66 on Friday. Annexon, Inc. has a 1 year low of $1.28 and a 1 year high of $7.18. The firm’s 50-day moving average is $5.72 and its 200-day moving average is $4.27. The company has a market cap of $677.11 million, a P/E ratio of -4.01 and a beta of 1.15.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Chardan Capital initiated coverage on shares of Annexon in a report on Tuesday, December 23rd. They issued a “buy” rating and a $16.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a report on Wednesday, January 21st. Wells Fargo & Company increased their price target on Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a report on Wednesday, January 14th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Sirios Capital Management L P raised its stake in shares of Annexon by 28.7% during the second quarter. Sirios Capital Management L P now owns 989,577 shares of the company’s stock valued at $2,375,000 after purchasing an additional 220,891 shares in the last quarter. Rhenman & Partners Asset Management AB increased its stake in Annexon by 78.9% during the 3rd quarter. Rhenman & Partners Asset Management AB now owns 823,000 shares of the company’s stock valued at $2,510,000 after buying an additional 363,000 shares during the period. Sio Capital Management LLC raised its position in shares of Annexon by 20.5% during the 2nd quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock worth $9,830,000 after buying an additional 697,978 shares in the last quarter. TFG Asset Management GP Ltd lifted its stake in shares of Annexon by 6.0% in the 2nd quarter. TFG Asset Management GP Ltd now owns 2,810,000 shares of the company’s stock worth $6,744,000 after acquiring an additional 160,000 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Annexon in the 2nd quarter worth approximately $48,000.

About Annexon

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.