Ted Yednock Sells 7,857 Shares of Annexon (NASDAQ:ANNX) Stock

Annexon, Inc. (NASDAQ:ANNX) EVP Ted Yednock sold 7,857 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $5.11, for a total value of $40,149.27. Following the completion of the sale, the executive vice president owned 97,227 shares in the company, valued at approximately $496,829.97. This trade represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Annexon Stock Down 3.9%

Shares of NASDAQ:ANNX traded down $0.20 during mid-day trading on Friday, reaching $4.90. 1,749,100 shares of the stock were exchanged, compared to its average volume of 2,388,556. The stock’s 50 day simple moving average is $5.58 and its 200-day simple moving average is $3.93. Annexon, Inc. has a one year low of $1.28 and a one year high of $7.18. The company has a market cap of $586.19 million, a P/E ratio of -3.48 and a beta of 1.17.

Institutional Trading of Annexon

Institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. lifted its position in shares of Annexon by 381.5% in the fourth quarter. Invesco Ltd. now owns 972,449 shares of the company’s stock valued at $4,882,000 after buying an additional 770,504 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Annexon in the 4th quarter valued at $52,000. XTX Topco Ltd lifted its holdings in Annexon by 64.6% during the 4th quarter. XTX Topco Ltd now owns 243,313 shares of the company’s stock valued at $1,221,000 after purchasing an additional 95,473 shares during the last quarter. Ikarian Capital LLC acquired a new stake in Annexon during the 4th quarter valued at $1,156,000. Finally, Virtus Investment Advisers LLC boosted its position in Annexon by 27.5% during the fourth quarter. Virtus Investment Advisers LLC now owns 53,527 shares of the company’s stock worth $269,000 after purchasing an additional 11,540 shares during the period.

Wall Street Analyst Weigh In

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