Annexon (NASDAQ:ANNX) Stock Price Up 5.7% – Here’s Why

Annexon, Inc. (NASDAQ:ANNX) shot up 5.7% during mid-day trading on Tuesday . The company traded as high as $5.41 and last traded at $5.39. 1,002,607 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 1,814,112 shares. The stock had previously closed at $5.10.

Wall Street Analysts Forecast Growth

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

Annexon Trading Up 0.9 %

The firm has a 50-day simple moving average of $6.68 and a two-hundred day simple moving average of $5.95. The company has a market capitalization of $569.21 million, a price-to-earnings ratio of -5.09 and a beta of 1.23.

Insider Transactions at Annexon

In other Annexon news, EVP Ted Yednock sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $5.64, for a total value of $31,020.00. Following the completion of the transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $56,400. The trade was a 35.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 15,408 shares of company stock worth $103,043 over the last quarter. 12.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Annexon

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC purchased a new stake in Annexon during the first quarter worth $87,000. Vanguard Group Inc. grew its position in shares of Annexon by 96.4% during the 1st quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock valued at $26,871,000 after acquiring an additional 1,839,329 shares during the period. American International Group Inc. grew its position in shares of Annexon by 46.3% during the 1st quarter. American International Group Inc. now owns 33,197 shares of the company’s stock valued at $238,000 after acquiring an additional 10,510 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Annexon by 10,482.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,323,704 shares of the company’s stock valued at $9,492,000 after purchasing an additional 1,311,195 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in Annexon in the 1st quarter worth about $119,000.

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.