Insider Selling: Annexon (NASDAQ:ANNX) EVP Sells 5,290 Shares of Stock

Annexon, Inc. (NASDAQ:ANNX) EVP Dean Richard Artis sold 5,290 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $5.10, for a total value of $26,979.00. Following the sale, the executive vice president owned 123,487 shares of the company’s stock, valued at $629,783.70. This trade represents a 4.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Annexon Stock Down 3.9%

NASDAQ:ANNX traded down $0.20 during midday trading on Friday, reaching $4.90. The stock had a trading volume of 1,749,100 shares, compared to its average volume of 2,388,556. The stock has a market cap of $586.19 million, a P/E ratio of -3.48 and a beta of 1.17. The firm has a fifty day simple moving average of $5.58 and a two-hundred day simple moving average of $3.93. Annexon, Inc. has a 12-month low of $1.28 and a 12-month high of $7.18.

Hedge Funds Weigh In On Annexon

A number of institutional investors have recently modified their holdings of ANNX. AQR Capital Management LLC lifted its stake in shares of Annexon by 122.6% during the first quarter. AQR Capital Management LLC now owns 73,790 shares of the company’s stock valued at $142,000 after buying an additional 40,637 shares during the period. Jane Street Group LLC lifted its stake in shares of Annexon by 8.2% during the 1st quarter. Jane Street Group LLC now owns 99,924 shares of the company’s stock worth $193,000 after purchasing an additional 7,553 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Annexon by 31.1% during the first quarter. Acadian Asset Management LLC now owns 203,990 shares of the company’s stock worth $393,000 after purchasing an additional 48,345 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in Annexon in the 2nd quarter valued at about $29,000. Finally, CWM LLC grew its holdings in Annexon by 212.9% in the second quarter. CWM LLC now owns 17,734 shares of the company’s stock valued at $43,000 after purchasing an additional 12,066 shares during the period.

Analyst Ratings Changes

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

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.