Annexon (NASDAQ:ANNX) Trading Down 5.3% on Insider Selling

Shares of Annexon, Inc. (NASDAQ:ANNX) were down 5.3% on Monday after an insider sold shares in the company. The company traded as low as $6.66 and last traded at $6.66. Approximately 276,561 shares were traded during trading, a decline of 86% from the average daily volume of 1,929,670 shares. The stock had previously closed at $7.03.

Specifically, EVP Ted Yednock sold 4,500 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $7.10, for a total value of $31,950.00. Following the sale, the executive vice president now owns 71,365 shares in the company, valued at approximately $506,691.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

Several analysts have commented on ANNX shares. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price target on shares of Annexon in a research note on Tuesday, August 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a report on Monday, September 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Annexon in a report on Tuesday, August 13th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Annexon currently has an average rating of “Buy” and an average target price of $15.80.

Annexon Stock Performance

The firm has a market capitalization of $582.20 million, a P/E ratio of -4.29 and a beta of 1.28. The stock’s 50 day simple moving average is $6.06 and its 200 day simple moving average is $5.60.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.23) earnings per share for the quarter, hitting the consensus estimate of ($0.23). On average, analysts anticipate that Annexon, Inc. will post -0.97 earnings per share for the current year.

Institutional Investors Weigh In On Annexon

Several hedge funds have recently modified their holdings of ANNX. Ameritas Investment Partners Inc. lifted its position in shares of Annexon by 78.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock worth $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 worth approximately $49,000. Victory Capital Management Inc. purchased a new stake in shares of Annexon in the 2nd quarter worth approximately $51,000. Principal Financial Group Inc. purchased a new stake in Annexon during the second quarter valued at approximately $56,000. Finally, Comerica Bank purchased a new stake in Annexon during the first quarter valued at approximately $72,000.

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.