Annexon (NASDAQ:ANNX) Shares Gap Up – Here’s What Happened

Annexon, Inc. (NASDAQ:ANNX)’s share price gapped up before the market opened on Monday . The stock had previously closed at $4.44, but opened at $5.00. Annexon shares last traded at $5.09, with a volume of 567,210 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Annexon in a research report on Friday, November 15th. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Annexon in a research report on Friday, November 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research report on Friday, November 15th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $15.80.

Annexon Trading Up 15.8 %

The firm has a market cap of $547.89 million, a P/E ratio of -4.69 and a beta of 1.10. The business’s fifty day simple moving average is $6.35 and its 200-day simple moving average is $5.98.

Insiders Place Their Bets

In other Annexon news, EVP Ted Yednock sold 5,408 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total value of $40,073.28. Following the sale, the executive vice president now owns 71,365 shares of the company’s stock, valued at $528,814.65. This trade represents a 7.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.67% of the company’s stock.

Institutional Investors Weigh In On Annexon

Large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. bought a new stake in shares of Annexon during the 3rd quarter valued at about $292,000. Barclays PLC boosted its stake in shares of Annexon by 212.0% during the 3rd quarter. Barclays PLC now owns 177,765 shares of the company’s stock valued at $1,052,000 after purchasing an additional 120,789 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Annexon by 18.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,143,635 shares of the company’s stock valued at $12,693,000 after purchasing an additional 331,269 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Annexon by 36.2% during the 3rd quarter. Wellington Management Group LLP now owns 263,360 shares of the company’s stock valued at $1,559,000 after purchasing an additional 69,941 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Annexon by 116.6% during the 3rd quarter. State Street Corp now owns 3,841,879 shares of the company’s stock valued at $22,744,000 after purchasing an additional 2,068,294 shares in the last quarter.

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.