Annexon (NASDAQ:ANNX) CFO Jennifer Lew Sells 7,851 Shares

Annexon, Inc. (NASDAQ:ANNX) CFO Jennifer Lew sold 7,851 shares of Annexon stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $5.11, for a total value of $40,118.61. Following the sale, the chief financial officer directly owned 113,765 shares in the company, valued at $581,339.15. The trade was a 6.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Annexon Price Performance

Shares of ANNX traded down $0.20 during mid-day trading on Friday, reaching $4.90. The company had a trading volume of 1,749,100 shares, compared to its average volume of 2,388,556. The company’s 50-day moving average is $5.58 and its 200-day moving average is $3.93. Annexon, Inc. has a twelve month low of $1.28 and a twelve month high of $7.18. The company has a market capitalization of $586.19 million, a P/E ratio of -3.48 and a beta of 1.17.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Invesco Ltd. raised its position in Annexon by 381.5% in the 4th quarter. Invesco Ltd. now owns 972,449 shares of the company’s stock valued at $4,882,000 after buying an additional 770,504 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Annexon during the 4th quarter worth approximately $52,000. XTX Topco Ltd grew its stake in shares of Annexon by 64.6% during the 4th quarter. XTX Topco Ltd now owns 243,313 shares of the company’s stock worth $1,221,000 after acquiring an additional 95,473 shares in the last quarter. Ikarian Capital LLC acquired a new stake in shares of Annexon in the fourth quarter valued at approximately $1,156,000. Finally, Virtus Investment Advisers LLC boosted its holdings in Annexon by 27.5% during the fourth quarter. Virtus Investment Advisers LLC now owns 53,527 shares of the company’s stock worth $269,000 after purchasing an additional 11,540 shares during the last quarter.

Analysts Set New Price Targets

ANNX has been the topic of several analyst reports. Chardan Capital started coverage on shares of Annexon in a report on Tuesday, December 23rd. They issued a “buy” rating and a $16.00 price objective on the stock. Weiss Ratings reiterated 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 report on Wednesday, November 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Wednesday, January 14th. 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $17.00.

Annexon Company Profile

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.