Annexon (NASDAQ:ANNX) CFO Sells $40,118.61 in Stock

Annexon, Inc. (NASDAQ:ANNX) CFO Jennifer Lew sold 7,851 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $5.11, for a total transaction of $40,118.61. Following the completion of the transaction, the chief financial officer directly owned 113,765 shares in the company, valued at $581,339.15. This represents a 6.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Annexon Stock Performance

Annexon stock traded down $0.20 during midday trading on Friday, reaching $4.90. The company’s stock had a trading volume of 1,749,100 shares, compared to its average volume of 2,388,556. The firm has a market capitalization of $586.19 million, a PE ratio of -3.48 and a beta of 1.17. Annexon, Inc. has a fifty-two week low of $1.28 and a fifty-two week high of $7.18. The stock’s 50 day simple moving average is $5.58 and its 200 day simple moving average is $3.93.

Institutional Trading of Annexon

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. grew its position in Annexon by 266.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,500,000 shares of the company’s stock worth $27,610,000 after purchasing an additional 4,000,000 shares in the last quarter. Mak Capital One LLC acquired a new stake in shares of Annexon in the 4th quarter valued at $14,852,000. State Street Corp increased its holdings in shares of Annexon by 126.9% during the 4th quarter. State Street Corp now owns 4,652,185 shares of the company’s stock valued at $23,354,000 after acquiring an additional 2,601,877 shares during the last quarter. Nuveen LLC grew its holdings in Annexon by 327.1% during the fourth quarter. Nuveen LLC now owns 2,915,324 shares of the company’s stock valued at $14,635,000 after purchasing an additional 2,232,766 shares during the last quarter. Finally, BVF Inc. IL raised its holdings in Annexon by 30.4% in the 4th quarter. BVF Inc. IL now owns 9,128,080 shares of the company’s stock worth $45,823,000 after acquiring an additional 2,128,080 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ANNX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, January 21st. Wells Fargo & Company boosted their price objective on Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 19th. Chardan Capital began coverage on shares of Annexon in a report on Tuesday, December 23rd. They set a “buy” rating and a $16.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a report on Wednesday, January 14th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Annexon currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

About Annexon

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.