William Carson Acquires 8,000 Shares of Annexon (NASDAQ:ANNX) Stock

Annexon, Inc. (NASDAQ:ANNX) Director William Carson acquired 8,000 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were bought at an average cost of $5.67 per share, for a total transaction of $45,360.00. Following the acquisition, the director owned 62,405 shares of the company’s stock, valued at $353,836.35. This represents a 14.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Annexon Price Performance

Shares of Annexon stock traded down $0.59 during trading hours on Thursday, hitting $5.44. The company had a trading volume of 2,462,851 shares, compared to its average volume of 2,557,576. The company’s 50-day moving average is $5.69 and its two-hundred day moving average is $4.23. Annexon, Inc. has a twelve month low of $1.28 and a twelve month high of $7.18. The company has a market cap of $650.80 million, a P/E ratio of -3.86 and a beta of 1.15.

Hedge Funds Weigh In On Annexon

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of Annexon by 13.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,553 shares of the company’s stock valued at $100,000 after purchasing an additional 2,348 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Annexon by 65.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock worth $35,000 after purchasing an additional 2,785 shares during the last quarter. Susquehanna Portfolio Strategies LLC raised its stake in shares of Annexon by 0.8% during the fourth 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 during the last quarter. ProShare Advisors LLC raised its stake in shares of Annexon by 21.7% during the fourth quarter. ProShare Advisors LLC now owns 24,698 shares of the company’s stock worth $124,000 after purchasing an additional 4,410 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in shares of Annexon by 14.3% during the third quarter. Citizens Financial Group Inc. RI now owns 40,000 shares of the company’s stock worth $122,000 after purchasing an additional 5,000 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wells Fargo & Company raised their price objective on 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 research report on Wednesday, January 14th. Chardan Capital initiated coverage on Annexon in a research note on Tuesday, December 23rd. They set a “buy” rating and a $16.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.