Annexon (NASDAQ:ANNX) Director William Carson Buys 8,000 Shares of Stock

Annexon, Inc. (NASDAQ:ANNX) Director William Carson bought 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $5.67 per share, with a total value of $45,360.00. Following the acquisition, the director directly owned 62,405 shares in the company, valued at $353,836.35. This trade represents a 14.70% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Annexon Price Performance

Shares of ANNX stock traded up $0.25 during mid-day trading on Friday, hitting $5.69. The company had a trading volume of 1,055,317 shares, compared to its average volume of 2,524,902. The stock’s 50 day moving average price is $5.70 and its 200-day moving average price is $4.24. Annexon, Inc. has a 52-week low of $1.28 and a 52-week high of $7.18. The company has a market capitalization of $680.10 million, a P/E ratio of -4.02 and a beta of 1.15.

Institutional Investors Weigh In On Annexon

Several hedge funds have recently modified their holdings of ANNX. Caitong International Asset Management Co. Ltd purchased a new position in Annexon during the fourth quarter valued at approximately $96,000. Invesco Ltd. boosted its position in Annexon by 381.5% during the fourth quarter. Invesco Ltd. now owns 972,449 shares of the company’s stock valued at $4,882,000 after purchasing an additional 770,504 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Annexon in the fourth quarter valued at about $52,000. XTX Topco Ltd raised its holdings in Annexon by 64.6% in the fourth quarter. XTX Topco Ltd now owns 243,313 shares of the company’s stock worth $1,221,000 after purchasing an additional 95,473 shares in the last quarter. Finally, Ikarian Capital LLC purchased a new stake in shares of Annexon during the fourth quarter valued at about $1,156,000.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ANNX. Wells Fargo & Company boosted their price objective on shares of Annexon from $14.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, November 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research report on Wednesday, January 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a research note on Wednesday, January 21st. Finally, Chardan Capital started coverage on Annexon in a research note on Tuesday, December 23rd. They set a “buy” rating and a $16.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.