Annexon (NASDAQ:ANNX) Shares Gap Down to $5.74

Annexon, Inc. (NASDAQ:ANNX)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $5.74, but opened at $5.54. Annexon shares last traded at $5.66, with a volume of 556,824 shares changing hands.

Analyst Upgrades and Downgrades

ANNX has been the topic of several recent research reports. Wells Fargo & Company increased their price target on Annexon from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Annexon in a research note on Thursday, April 11th. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Annexon in a research note on Wednesday, March 27th. JPMorgan Chase & Co. increased their target price on Annexon from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Finally, Bank of America increased their target price on Annexon from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $14.43.

Annexon Stock Performance

The business has a 50-day moving average price of $5.77 and a 200-day moving average price of $4.04.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings data on Tuesday, March 26th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.09. On average, research analysts forecast that Annexon, Inc. will post -1.36 earnings per share for the current fiscal year.

Insider Activity at Annexon

In related news, CEO Douglas Love sold 5,782 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $5.54, for a total transaction of $32,032.28. Following the sale, the chief executive officer now owns 196,121 shares of the company’s stock, valued at $1,086,510.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 8,940 shares of company stock valued at $49,514 over the last quarter. 19.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Annexon

A number of institutional investors have recently added to or reduced their stakes in ANNX. Bain Capital Life Sciences Investors LLC boosted its holdings in Annexon by 41.4% in the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company’s stock worth $36,600,000 after acquiring an additional 2,359,793 shares in the last quarter. BVF Inc. IL acquired a new stake in Annexon in the fourth quarter worth about $31,780,000. BlackRock Inc. boosted its holdings in Annexon by 199.7% in the second quarter. BlackRock Inc. now owns 3,479,896 shares of the company’s stock worth $12,249,000 after acquiring an additional 2,318,780 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Annexon by 50.7% in the first quarter. Federated Hermes Inc. now owns 3,052,651 shares of the company’s stock worth $8,334,000 after acquiring an additional 1,027,051 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Annexon by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 1,908,326 shares of the company’s stock worth $8,664,000 after acquiring an additional 13,917 shares in the last quarter.

Annexon Company Profile

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines for treating inflammatory-related diseases. Its lead candidate is ANX005, an investigational full-length monoclonal antibody, which is in Phase 3 clinical trial for the treatment of patients with guillain-barré syndrome; completed Phase II clinical trial for treating Huntington's disease; and in Phase II clinical trial for the treatment of amyotrophic lateral sclerosis.