Muneer Satter Buys 500,000 Shares of Annexon (NASDAQ:ANNX) Stock

Annexon, Inc. (NASDAQ:ANNX) Director Muneer Satter purchased 500,000 shares of Annexon stock in a transaction dated Wednesday, November 19th. The stock was bought at an average cost of $3.94 per share, with a total value of $1,970,000.00. Following the completion of the transaction, the director directly owned 8,906,024 shares of the company’s stock, valued at $35,089,734.56. This represents a 5.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Annexon Price Performance

ANNX traded up $0.86 on Wednesday, reaching $4.06. 10,629,728 shares of the company traded hands, compared to its average volume of 1,729,495. The company has a market cap of $485.71 million, a price-to-earnings ratio of -3.15 and a beta of 1.28. The stock’s 50 day moving average price is $3.02 and its 200-day moving average price is $2.56. Annexon, Inc. has a 52-week low of $1.28 and a 52-week high of $5.66.

Annexon (NASDAQ:ANNX) last issued its earnings results on Monday, November 10th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). As a group, equities research analysts forecast that Annexon, Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Trading of Annexon

Institutional investors and hedge funds have recently made changes to their positions in the stock. Matauro LLC acquired a new position in shares of Annexon during the 2nd quarter valued at about $27,000. Vanguard Personalized Indexing Management LLC bought a new stake in Annexon during the second quarter worth approximately $29,000. 49 Wealth Management LLC acquired a new position in Annexon during the second quarter valued at approximately $29,000. Engineers Gate Manager LP bought a new position in shares of Annexon in the second quarter valued at approximately $32,000. Finally, SG Americas Securities LLC bought a new position in shares of Annexon in the third quarter valued at approximately $34,000.

Wall Street Analysts Forecast Growth

ANNX has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $14.00 target price on shares of Annexon in a research note on Friday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a report on Wednesday, October 8th. Zacks Research raised Annexon from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Finally, Wells Fargo & Company raised their price objective on shares of Annexon from $14.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday. Three 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 stock. According to data from MarketBeat.com, Annexon currently has an average rating of “Hold” and a consensus price target of $17.33.

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.