Annexon (NASDAQ:ANNX) Director Acquires $3,319,018.77 in Stock

Annexon, Inc. (NASDAQ:ANNX) Director Muneer Satter bought 613,497 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were acquired at an average price of $5.41 per share, for a total transaction of $3,319,018.77. Following the completion of the transaction, the director directly owned 10,342,134 shares in the company, valued at approximately $55,950,944.94. This represents a 6.31% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Annexon Stock Performance

Shares of NASDAQ ANNX opened at $5.42 on Monday. The firm’s 50-day moving average price is $5.63 and its 200-day moving average price is $5.33. The stock has a market capitalization of $888.01 million, a price-to-earnings ratio of -4.44 and a beta of 1.18. Annexon, Inc. has a 12-month low of $1.85 and a 12-month high of $7.18.

Annexon (NASDAQ:ANNX) last announced its earnings results on Thursday, May 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.07. On average, equities analysts predict that Annexon, Inc. will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Annexon

A number of hedge funds have recently added to or reduced their stakes in ANNX. AQR Capital Management LLC grew its stake in Annexon by 122.6% in the 1st quarter. AQR Capital Management LLC now owns 73,790 shares of the company’s stock worth $142,000 after acquiring an additional 40,637 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Annexon by 8.2% during the first quarter. Jane Street Group LLC now owns 99,924 shares of the company’s stock valued at $193,000 after purchasing an additional 7,553 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Annexon by 31.1% during the first quarter. Acadian Asset Management LLC now owns 203,990 shares of the company’s stock valued at $393,000 after purchasing an additional 48,345 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Annexon by 1.8% during the second quarter. Geode Capital Management LLC now owns 2,284,773 shares of the company’s stock valued at $5,484,000 after purchasing an additional 39,763 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Annexon by 6.6% during the second quarter. American Century Companies Inc. now owns 211,195 shares of the company’s stock valued at $507,000 after purchasing an additional 13,001 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Chardan Capital reissued a “buy” rating and issued a $16.00 price objective on shares of Annexon in a research report on Friday, March 20th. The Goldman Sachs Group assumed coverage on shares of Annexon in a research report on Tuesday, May 12th. They issued a “neutral” rating and a $7.00 price objective on the stock. Wall Street Zen raised shares of Annexon from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a research report on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Annexon has an average rating of “Hold” and a consensus target price of $16.00.

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.