Michael Overdorf Sells 6,225 Shares of Annexon (NASDAQ:ANNX) Stock

Annexon, Inc. (NASDAQ:ANNX) EVP Michael Overdorf sold 6,225 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $5.10, for a total transaction of $31,747.50. Following the sale, the executive vice president directly owned 124,464 shares in the company, valued at $634,766.40. This trade represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Annexon Stock Down 3.9%

Annexon stock traded down $0.20 during trading hours on Friday, hitting $4.90. The stock had a trading volume of 1,749,100 shares, compared to its average volume of 2,388,556. The stock’s 50-day moving average price is $5.58 and its 200-day moving average price is $3.93. The stock has a market capitalization of $586.19 million, a P/E ratio of -3.48 and a beta of 1.17. Annexon, Inc. has a 12-month low of $1.28 and a 12-month high of $7.18.

Analyst Upgrades and Downgrades

Several research firms recently commented on ANNX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a report on Wednesday, January 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research note on Wednesday, January 14th. Chardan Capital initiated coverage on shares of Annexon in a report on Tuesday, December 23rd. They set a “buy” rating and a $16.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on shares of Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, November 19th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Hedge Funds Weigh In On Annexon

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sirios Capital Management L P lifted its position in shares of Annexon by 28.7% during the 2nd quarter. Sirios Capital Management L P now owns 989,577 shares of the company’s stock valued at $2,375,000 after buying an additional 220,891 shares in the last quarter. Sio Capital Management LLC raised its stake in Annexon by 20.5% during the 2nd quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock worth $9,830,000 after acquiring an additional 697,978 shares during the period. TFG Asset Management GP Ltd lifted its holdings in Annexon by 6.0% during the second quarter. TFG Asset Management GP Ltd now owns 2,810,000 shares of the company’s stock valued at $6,744,000 after purchasing an additional 160,000 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Annexon during the second quarter valued at approximately $48,000. Finally, DNB Asset Management AS boosted its position in shares of Annexon by 33.9% in the second quarter. DNB Asset Management AS now owns 99,574 shares of the company’s stock worth $239,000 after purchasing an additional 25,195 shares during the period.

About Annexon

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.