Annexon (NASDAQ:ANNX) Stock Price Up 6.7% – Time to Buy?

Annexon, Inc. (NASDAQ:ANNX)’s stock price traded up 6.7% during mid-day trading on Tuesday . The stock traded as high as $4.31 and last traded at $4.4080. 238,069 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 1,783,634 shares. The stock had previously closed at $4.13.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ANNX. Zacks Research upgraded Annexon from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. HC Wainwright restated a “buy” rating and issued a $14.00 price objective 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 research note on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price target on shares of Annexon from $14.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, November 19th. 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 company’s stock. According to MarketBeat, Annexon currently has an average rating of “Hold” and a consensus target price of $17.33.

Annexon Stock Up 4.9%

The company’s fifty day simple moving average is $3.38 and its 200-day simple moving average is $2.75.

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

Insider Buying and Selling at Annexon

In other news, Director Jung Choi bought 33,000 shares of Annexon stock in a transaction dated Monday, December 1st. The shares were bought at an average price of $4.19 per share, for a total transaction of $138,270.00. Following the purchase, the director owned 33,000 shares of the company’s stock, valued at approximately $138,270. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Muneer A. Satter bought 422,613 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were purchased at an average price of $4.28 per share, with a total value of $1,808,783.64. Following the transaction, the director directly owned 9,728,637 shares in the company, valued at $41,638,566.36. This represents a 4.54% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 1,867,958 shares of company stock worth $7,248,043. 11.87% of the stock is owned by insiders.

Institutional Trading of Annexon

Several large investors have recently added to or reduced their stakes in ANNX. Nuveen LLC acquired a new position in Annexon in the first quarter worth $670,000. J. Safra Sarasin Holding AG raised its holdings in shares of Annexon by 49.9% in the second quarter. J. Safra Sarasin Holding AG now owns 381,441 shares of the company’s stock valued at $915,000 after buying an additional 126,903 shares during the last quarter. Sio Capital Management LLC raised its holdings in shares of Annexon by 20.5% in the second quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock valued at $9,830,000 after buying an additional 697,978 shares during the last quarter. Wellington Management Group LLP lifted its position in Annexon by 32.9% during the 1st quarter. Wellington Management Group LLP now owns 356,480 shares of the company’s stock worth $688,000 after buying an additional 88,314 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in Annexon by 65.4% during the 1st quarter. XTX Topco Ltd now owns 58,130 shares of the company’s stock worth $112,000 after acquiring an additional 22,979 shares during the last quarter.

About Annexon

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.