Annexon (NASDAQ:ANNX) EVP Michael Overdorf Sells 6,225 Shares

Annexon, Inc. (NASDAQ:ANNX) EVP Michael Overdorf sold 6,225 shares of Annexon stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $5.10, for a total transaction of $31,747.50. Following the completion of the sale, the executive vice president directly owned 124,464 shares of the company’s stock, valued at approximately $634,766.40. The trade was a 4.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Annexon Trading Down 3.9%

Annexon stock traded down $0.20 during mid-day trading on Friday, hitting $4.90. 1,749,100 shares of the company’s stock were exchanged, compared to its average volume of 1,986,881. Annexon, Inc. has a 1-year low of $1.28 and a 1-year high of $7.18. The stock has a 50 day moving average of $5.58 and a two-hundred day moving average of $3.94. The stock has a market cap of $586.19 million, a P/E ratio of -3.48 and a beta of 1.17.

Institutional Trading of Annexon

Hedge funds have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Annexon in the second quarter valued at $29,000. 49 Wealth Management LLC acquired a new stake in Annexon during the second quarter worth $29,000. CIBC Bancorp USA Inc. bought a new stake in Annexon in the 3rd quarter valued at $31,000. Engineers Gate Manager LP bought a new stake in Annexon in the second quarter valued at about $32,000. Finally, SG Americas Securities LLC acquired a new position in Annexon in the third quarter worth about $34,000.

More Annexon News

Here are the key news stories impacting Annexon this week:

• Neutral Sentiment: Short-interest reports for Feb. 19–20 show 0 shares of reported short interest and a 0.0 days-to-cover metric — this appears to be a data/reporting anomaly (NaN changes). The readings do not indicate meaningful new short activity to explain the move. Short Interest Report
• Negative Sentiment: EVP Michael Overdorf sold 6,225 shares at an average $5.10 (≈$31.7k); his holdings fell ~4.8%. Form 4 – Overdorf
• Negative Sentiment: EVP Ted Yednock sold 7,857 shares at an average $5.11 (≈$40.1k); his position dropped ~7.5%. Form 4 – Yednock
• Negative Sentiment: EVP Dean Richard Artis sold 5,290 shares at an average $5.10 (≈$27.0k); his holding decreased ~4.1%. Form 4 – Artis
• Negative Sentiment: CFO Jennifer Lew sold 7,851 shares at an average $5.11 (≈$40.1k); her stake fell ~6.5%. Form 4 – Lew
• Negative Sentiment: Insider Jamie Dananberg sold 5,290 shares at an average $5.10 (≈$27.0k); his holding declined ~6.7%. Form 4 – Dananberg

Wall Street Analysts Forecast Growth

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