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

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

Annexon Stock Down 3.9%

Shares of Annexon stock opened at $4.90 on Friday. The company has a market capitalization of $586.19 million, a price-to-earnings ratio of -3.48 and a beta of 1.17. The stock’s 50-day simple moving average is $5.58 and its 200-day simple moving average is $3.95. Annexon, Inc. has a 52 week low of $1.28 and a 52 week high of $7.18.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sirios Capital Management L P lifted its position in Annexon by 28.7% during the second quarter. Sirios Capital Management L P now owns 989,577 shares of the company’s stock valued at $2,375,000 after purchasing an additional 220,891 shares during the last quarter. Sio Capital Management LLC raised its position in shares of Annexon by 20.5% during the 2nd quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock valued at $9,830,000 after buying an additional 697,978 shares in the last quarter. TFG Asset Management GP Ltd lifted its holdings in shares of Annexon by 6.0% in the 2nd quarter. TFG Asset Management GP Ltd now owns 2,810,000 shares of the company’s stock valued at $6,744,000 after acquiring an additional 160,000 shares during the last quarter. DNB Asset Management AS lifted its holdings in shares of Annexon by 33.9% in the 2nd quarter. DNB Asset Management AS now owns 99,574 shares of the company’s stock valued at $239,000 after acquiring an additional 25,195 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Annexon in the second quarter worth about $48,000.

Analyst Ratings Changes

Several research firms have recently issued reports on ANNX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research report on Wednesday, January 14th. Wells Fargo & Company upped their target price on shares of Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Chardan Capital began coverage on shares of Annexon in a research note on Tuesday, December 23rd. They set a “buy” rating and a $16.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a research note on Wednesday, January 21st. 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 data from MarketBeat.com, Annexon presently has a consensus rating of “Moderate Buy” and a consensus price target 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.