Annexon (NASDAQ:ANNX) Shares Up 6.6% – What’s Next?

Shares of Annexon, Inc. (NASDAQ:ANNX) shot up 6.6% during mid-day trading on Monday . The company traded as high as $5.94 and last traded at $5.8650. 1,119,666 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 2,666,796 shares. The stock had previously closed at $5.50.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ANNX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a research note on Wednesday, January 21st. Finally, Chardan Capital reiterated a “buy” rating and issued a $16.00 price target on shares of Annexon in a research note on Friday, March 20th. Five research 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, Annexon has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Annexon Stock Performance

The stock’s fifty day moving average is $5.49 and its 200 day moving average is $4.67. The stock has a market cap of $978.09 million, a P/E ratio of -4.47 and a beta of 1.14.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings results on Monday, March 30th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.04. Equities research analysts predict that Annexon, Inc. will post -0.96 EPS for the current year.

Insider Buying and Selling at Annexon

In other Annexon news, Director William H. Carson bought 8,000 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was acquired at an average price of $5.67 per share, for a total transaction of $45,360.00. Following the completion of the transaction, the director directly owned 62,405 shares of the company’s stock, valued at approximately $353,836.35. This represents a 14.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jennifer Lew sold 7,851 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $5.11, for a total value of $40,118.61. Following the transaction, the chief financial officer owned 113,765 shares of the company’s stock, valued at $581,339.15. This trade represents a 6.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 32,513 shares of company stock valued at $165,973. 12.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Rhenman & Partners Asset Management AB boosted its position in shares of Annexon by 78.9% during the third 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. Sirios Capital Management L P boosted its position 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 buying an additional 220,891 shares during the period. TFG Asset Management GP Ltd boosted its position in shares of Annexon by 6.0% during the second quarter. TFG Asset Management GP Ltd now owns 2,810,000 shares of the company’s stock valued at $6,744,000 after buying an additional 160,000 shares during the period. ProShare Advisors LLC boosted its position in shares of Annexon by 21.7% during the fourth quarter. ProShare Advisors LLC now owns 24,698 shares of the company’s stock valued at $124,000 after buying an additional 4,410 shares during the period. Finally, DNB Asset Management AS boosted its position in shares of Annexon by 40.0% during the fourth quarter. DNB Asset Management AS now owns 118,324 shares of the company’s stock valued at $594,000 after buying an additional 33,801 shares during the period.

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.