Annexon (NASDAQ:ANNX) CEO Douglas Love Acquires 26,065 Shares of Stock

Annexon, Inc. (NASDAQ:ANNX) CEO Douglas Love bought 26,065 shares of Annexon stock in a transaction dated Thursday, September 24th. The shares were bought at an average cost of $3.83 per share, for a total transaction of $99,828.95. Following the completion of the transaction, the chief executive officer owned 390,476 shares of the company’s stock, valued at approximately $1,495,523.08. This trade represents a 7.15% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Annexon Stock Performance

Shares of NASDAQ ANNX opened at $3.64 on Friday. The firm has a market capitalization of $690.07 million, a price-to-earnings ratio of -3.14 and a beta of 1.21. The stock has a 50 day moving average price of $4.87 and a 200 day moving average price of $5.31. Annexon, Inc. has a 52-week low of $2.54 and a 52-week high of $7.18.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.04). Analysts forecast that Annexon, Inc. will post -1.04 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup assumed coverage on Annexon in a research note on Tuesday, July 21st. They set a “market underperform” rating on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Annexon in a research note on Monday, July 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Monday, July 13th. Wall Street Zen cut shares of Annexon from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Annexon from $10.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.14.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Redmile Group LLC raised its position in shares of Annexon by 44.8% in the 1st quarter. Redmile Group LLC now owns 14,549,768 shares of the company’s stock worth $80,606,000 after acquiring an additional 4,499,124 shares in the last quarter. BlackRock Inc. bought a new stake in Annexon during the second quarter valued at about $77,312,000. BVF Inc. IL grew its stake in Annexon by 30.4% in the fourth quarter. BVF Inc. IL now owns 9,128,080 shares of the company’s stock valued at $45,823,000 after purchasing an additional 2,128,080 shares during the last quarter. Bank of America Corp DE grew its stake in Annexon by 165.3% in the first quarter. Bank of America Corp DE now owns 4,259,995 shares of the company’s stock valued at $23,600,000 after purchasing an additional 2,654,414 shares during the last quarter. Finally, Siren L.L.C. bought a new position in Annexon in the first quarter worth about $21,931,000.

About Annexon

Annexon, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for diseases driven by the classical complement pathway, an immune system mechanism that can contribute to inflammation and the destruction of healthy cells. The company’s approach is designed to selectively inhibit complement activity while preserving other potentially beneficial immune functions.

Annexon’s lead programs include ANX005, an investigational monoclonal antibody that targets C1q and is being evaluated in immune-mediated and neuroinflammatory conditions, including Guillain-Barré syndrome.