Annexon (NASDAQ:ANNX) Trading Down 2.5% Following Insider Selling

Annexon, Inc. (NASDAQ:ANNX) shares were down 2.5% during trading on Friday after an insider sold shares in the company. The stock traded as low as $5.75 and last traded at $5.78. Approximately 96,409 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 1,965,283 shares. The stock had previously closed at $5.93.

Specifically, EVP Ted Yednock sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $5.95, for a total transaction of $32,725.00. Following the completion of the transaction, the executive vice president now owns 15,500 shares in the company, valued at approximately $92,225. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

ANNX has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Annexon from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, May 15th. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price target on shares of Annexon in a report on Tuesday, August 13th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Annexon in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research note on Wednesday, June 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $15.80.

Annexon Price Performance

The stock has a market cap of $526.75 million, a price-to-earnings ratio of -3.88 and a beta of 1.29. The firm’s fifty day moving average price is $5.61 and its two-hundred day moving average price is $5.47.

Annexon (NASDAQ:ANNX) last issued its earnings results on Monday, August 12th. The company reported ($0.23) EPS for the quarter, meeting analysts’ consensus estimates of ($0.23). On average, equities research analysts anticipate that Annexon, Inc. will post -0.98 earnings per share for the current year.

Hedge Funds Weigh In On Annexon

Institutional investors have recently modified their holdings of the company. Bain Capital Life Sciences Investors LLC increased its stake in Annexon by 8.0% during the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 8,703,268 shares of the company’s stock valued at $62,402,000 after purchasing an additional 641,549 shares in the last quarter. BVF Inc. IL acquired a new position in shares of Annexon during the fourth quarter valued at about $31,780,000. Point72 Asset Management L.P. increased its position in shares of Annexon by 16.1% during the second quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock worth $29,346,000 after acquiring an additional 832,617 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Annexon by 96.4% in the 1st quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock worth $26,871,000 after acquiring an additional 1,839,329 shares during the last quarter. Finally, Bellevue Group AG bought a new position in Annexon in the 1st quarter valued at about $15,647,000.

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.