Annexon (NASDAQ:ANNX) Stock: Insider Douglas Love Buys 26,065 Shares

Annexon, Inc. (NASDAQ:ANNX) CEO Douglas Love purchased 26,065 shares of Annexon stock in a transaction dated Thursday, September 24th. The stock was bought at an average cost of $3.83 per share, with a total value of $99,828.95. Following the completion of the transaction, the chief executive officer directly owned 390,476 shares of the company’s stock, valued at $1,495,523.08. This represents a 7.15% 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 Stock Performance

Shares of NASDAQ ANNX traded down $0.16 during mid-day trading on Friday, reaching $3.64. The company had a trading volume of 3,496,072 shares, compared to its average volume of 2,941,679. The stock’s 50 day moving average is $4.91 and its 200-day moving average is $5.32. Annexon, Inc. has a twelve month low of $2.54 and a twelve month high of $7.18. The stock has a market capitalization of $690.07 million, a PE ratio of -3.14 and a beta of 1.21.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.04). On average, sell-side analysts anticipate that Annexon, Inc. will post -1.04 EPS for the current year.

Hedge Funds Weigh In On Annexon

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC lifted its position in shares of Annexon by 32.3% during the second quarter. Integrated Wealth Concepts LLC now owns 13,537 shares of the company’s stock valued at $77,000 after purchasing an additional 3,305 shares in the last quarter. ProShare Advisors LLC boosted its position in Annexon by 21.7% in 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. The Manufacturers Life Insurance Company boosted its stake in Annexon by 3.6% in the first quarter. The Manufacturers Life Insurance Company now owns 134,786 shares of the company’s stock valued at $747,000 after acquiring an additional 4,684 shares during the last quarter. ADAR1 Capital Management LLC grew its holdings in Annexon by 14.6% during the first quarter. ADAR1 Capital Management LLC now owns 55,000 shares of the company’s stock valued at $305,000 after purchasing an additional 7,000 shares during the period. Finally, Abel Hall LLC purchased a new stake in Annexon in the first quarter worth $61,000.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ANNX. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research report on Monday, July 13th. Wall Street Zen lowered shares of Annexon from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Citizens Jmp upgraded Annexon from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. raised their price objective on shares of Annexon from $10.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a report on Friday, July 17th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have 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 $15.14.

About Annexon

Annexon, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for diseases driven by the classical complement pathway, an immune system mechanism that can contribute to inflammation and the destruction of healthy cells. The company’s approach is designed to selectively inhibit complement activity while preserving other potentially beneficial immune functions.

Annexon’s lead programs include ANX005, an investigational monoclonal antibody that targets C1q and is being evaluated in immune-mediated and neuroinflammatory conditions, including Guillain-Barré syndrome.