Annexon (NASDAQ:ANNX) Shares Gap Down to $5.74

Annexon, Inc. (NASDAQ:ANNX) gapped down prior to trading on Tuesday . The stock had previously closed at $5.74, but opened at $5.54. Annexon shares last traded at $5.66, with a volume of 556,824 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Annexon from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Annexon in a report on Wednesday, March 27th. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a report on Wednesday, April 3rd. Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Annexon in a report on Thursday, April 11th. Finally, Bank of America lifted their price target on Annexon from $7.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $14.43.

Annexon Price Performance

The firm has a market cap of $478.94 million, a PE ratio of -3.17 and a beta of 1.14. The business has a fifty day moving average price of $5.80 and a two-hundred day moving average price of $4.02.

Insider Activity

In related news, CEO Douglas Love sold 5,782 shares of Annexon stock in a transaction on Monday, February 12th. The stock was sold at an average price of $5.54, for a total transaction of $32,032.28. Following the completion of the sale, the chief executive officer now owns 196,121 shares of the company’s stock, valued at $1,086,510.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 8,940 shares of company stock worth $49,514. 19.11% of the stock is owned by corporate insiders.

Institutional Trading of Annexon

A number of institutional investors have recently bought and sold shares of ANNX. Kennedy Capital Management LLC acquired a new stake in shares of Annexon in the third quarter worth about $2,306,000. Vontobel Holding Ltd. lifted its position in shares of Annexon by 33.2% in the third quarter. Vontobel Holding Ltd. now owns 898,785 shares of the company’s stock worth $2,121,000 after buying an additional 224,156 shares during the last quarter. Sectoral Asset Management Inc. lifted its position in shares of Annexon by 33.2% in the third quarter. Sectoral Asset Management Inc. now owns 898,785 shares of the company’s stock worth $2,121,000 after buying an additional 224,156 shares during the last quarter. Silverarc Capital Management LLC lifted its position in shares of Annexon by 2.5% in the third quarter. Silverarc Capital Management LLC now owns 399,716 shares of the company’s stock worth $943,000 after buying an additional 9,805 shares during the last quarter. Finally, Forefront Analytics LLC lifted its position in shares of Annexon by 18.3% in the third quarter. Forefront Analytics LLC now owns 31,680 shares of the company’s stock worth $75,000 after buying an additional 4,890 shares during the last quarter.

Annexon Company Profile

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune, neurodegenerative, and ophthalmic disorders. The company's C1q is an initiating molecule of the classical complement pathway that targets distinct disease processes, such as antibody-mediated autoimmune disease and complement-mediated neurodegeneration.