Annexon (NASDAQ:ANNX) Trading Down 4.2% – Here’s What Happened

Annexon, Inc. (NASDAQ:ANNX) shares traded down 4.2% during mid-day trading on Monday . The company traded as low as $5.80 and last traded at $5.86. 391,284 shares changed hands during trading, a decline of 78% from the average session volume of 1,812,867 shares. The stock had previously closed at $6.12.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ANNX. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Annexon in a research report on Friday, November 15th. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research note on Friday, November 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price target on shares of Annexon in a research report on Friday, November 15th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Annexon has a consensus rating of “Buy” and a consensus target price of $15.80.

Annexon Trading Down 5.5 %

The stock has a market capitalization of $550.00 million, a P/E ratio of -5.01 and a beta of 1.23. The stock’s 50-day moving average price is $6.88 and its two-hundred day moving average price is $5.94.

Insider Buying and Selling at Annexon

In other news, EVP Ted Yednock sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $5.64, for a total value of $31,020.00. Following the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at $56,400. The trade was a 35.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 20,908 shares of company stock valued at $135,768. Company insiders own 12.67% of the company’s stock.

Institutional Investors Weigh In On Annexon

A number of hedge funds and other institutional investors have recently bought and sold shares of ANNX. Ameritas Investment Partners Inc. raised its stake in shares of Annexon by 78.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock valued at $48,000 after purchasing an additional 2,949 shares during the period. Sandia Investment Management LP purchased a new stake in shares of Annexon in the 2nd quarter valued at about $49,000. Victory Capital Management Inc. bought a new stake in shares of Annexon during the 2nd quarter valued at about $51,000. Principal Financial Group Inc. bought a new position in shares of Annexon in the second quarter worth approximately $56,000. Finally, Comerica Bank bought a new stake in Annexon during the first quarter valued at approximately $72,000.

About Annexon

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.