Annexon (NASDAQ:ANNX) Shares Gap Down to $5.74

Annexon, Inc. (NASDAQ:ANNX) gapped down prior to trading on Tuesday . The stock had previously closed at $5.74, but opened at $5.54. Annexon shares last traded at $5.66, with a volume of 556,824 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ANNX shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Wednesday, April 3rd. JPMorgan Chase & Co. increased their target price on shares of Annexon from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Bank of America increased their target price on shares of Annexon from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Wells Fargo & Company increased their target price on shares of Annexon from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Annexon in a research report on Wednesday, March 27th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Annexon presently has a consensus rating of “Buy” and a consensus target price of $14.43.

Annexon Price Performance

The firm’s 50-day moving average is $5.77 and its 200-day moving average is $4.04.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings data on Tuesday, March 26th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.09. Equities analysts forecast that Annexon, Inc. will post -1.36 earnings per share for the current year.

Insider Activity at Annexon

In related news, CEO Douglas Love sold 5,782 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $5.54, for a total value of $32,032.28. Following the sale, the chief executive officer now directly owns 196,121 shares of the company’s stock, valued at $1,086,510.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 8,940 shares of company stock valued at $49,514 over the last three months. 19.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Annexon

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP raised its stake in shares of Annexon by 630.8% during the first quarter. Quantbot Technologies LP now owns 9,500 shares of the company’s stock worth $25,000 after acquiring an additional 8,200 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Annexon by 31.3% during the first quarter. Tower Research Capital LLC TRC now owns 7,992 shares of the company’s stock worth $31,000 after acquiring an additional 1,903 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Annexon during the first quarter worth approximately $41,000. Hsbc Holdings PLC purchased a new position in shares of Annexon in the third quarter worth $45,000. Finally, Bank of America Corp DE increased its stake in shares of Annexon by 29.7% in the fourth quarter. Bank of America Corp DE now owns 8,938 shares of the company’s stock worth $46,000 after buying an additional 2,049 shares during the period.

Annexon Company Profile

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.