Insider Buying: Annexon (NASDAQ:ANNX) Director Buys $45,360.00 in Stock

Annexon, Inc. (NASDAQ:ANNX) Director William Carson acquired 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $5.67 per share, with a total value of $45,360.00. Following the acquisition, the director owned 62,405 shares in the company, valued at $353,836.35. The trade was a 14.70% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Annexon Stock Up 4.0%

NASDAQ ANNX opened at $5.66 on Friday. The company has a market cap of $677.12 million, a PE ratio of -4.01 and a beta of 1.15. Annexon, Inc. has a 52 week low of $1.28 and a 52 week high of $7.18. The firm’s 50-day simple moving average is $5.72 and its two-hundred day simple moving average is $4.28.

Institutional Investors Weigh In On Annexon

Institutional investors and hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Annexon by 13.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,553 shares of the company’s stock valued at $100,000 after acquiring an additional 2,348 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Annexon by 65.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock worth $35,000 after acquiring an additional 2,785 shares during the period. Susquehanna Portfolio Strategies LLC lifted its stake in Annexon by 0.8% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 356,619 shares of the company’s stock worth $1,790,000 after purchasing an additional 2,875 shares in the last quarter. ProShare Advisors LLC lifted its stake in Annexon by 21.7% in the 4th quarter. ProShare Advisors LLC now owns 24,698 shares of the company’s stock worth $124,000 after purchasing an additional 4,410 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its holdings in Annexon by 14.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 40,000 shares of the company’s stock valued at $122,000 after purchasing an additional 5,000 shares during the period.

Analyst Upgrades and Downgrades

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