Insider Buying: Annexon (NASDAQ:ANNX) Director Acquires 8,000 Shares of Stock

Annexon, Inc. (NASDAQ:ANNX) Director William Carson acquired 8,000 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were purchased at an average price of $5.67 per share, with a total value of $45,360.00. Following the transaction, the director owned 62,405 shares in the company, valued at $353,836.35. The trade was a 14.70% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Annexon Trading Down 9.8%

Shares of NASDAQ:ANNX traded down $0.59 during midday trading on Thursday, hitting $5.44. The stock had a trading volume of 2,462,851 shares, compared to its average volume of 2,557,576. 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 price of $5.69 and a two-hundred day moving average price of $4.23. The company has a market capitalization of $650.80 million, a PE ratio of -3.86 and a beta of 1.15.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Annexon

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in Annexon by 122.6% in the first quarter. AQR Capital Management LLC now owns 73,790 shares of the company’s stock valued at $142,000 after purchasing an additional 40,637 shares during the last quarter. Jane Street Group LLC raised 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 buying an additional 7,553 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Annexon by 31.1% in the 1st quarter. Acadian Asset Management LLC now owns 203,990 shares of the company’s stock worth $393,000 after buying an additional 48,345 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Annexon in the 2nd quarter worth about $48,000. Finally, Geode Capital Management LLC grew its stake in Annexon by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,284,773 shares of the company’s stock valued at $5,484,000 after acquiring an additional 39,763 shares during the last quarter.

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.