Annexon, Inc. (NASDAQ:ANNX) Director Purchases $10,122.90 in Stock

Annexon, Inc. (NASDAQ:ANNX - Get Free Report) Director William H. Carson acquired 4,115 shares of the stock in a transaction dated Monday, June 30th. The shares were bought at an average cost of $2.46 per share, with a total value of $10,122.90. Following the transaction, the director directly owned 29,715 shares of the company's stock, valued at $73,098.90. This represents a 16.07% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Annexon Stock Performance

NASDAQ:ANNX traded up $0.46 during mid-day trading on Wednesday, hitting $2.93. 1,083,607 shares of the stock were exchanged, compared to its average volume of 1,443,868. The stock has a market capitalization of $321.01 million, a price-to-earnings ratio of -2.48 and a beta of 1.30. The firm's 50-day simple moving average is $2.14 and its 200 day simple moving average is $2.88. Annexon, Inc. has a fifty-two week low of $1.29 and a fifty-two week high of $7.85.

Annexon (NASDAQ:ANNX - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.07). On average, analysts predict that Annexon, Inc. will post -0.96 EPS for the current fiscal year.

Institutional Trading of Annexon

A number of institutional investors have recently bought and sold shares of ANNX. Alpine Global Management LLC acquired a new stake in Annexon during the first quarter worth approximately $49,000. Forefront Analytics LLC increased its position in shares of Annexon by 74.0% in the first quarter. Forefront Analytics LLC now owns 28,591 shares of the company's stock worth $55,000 after purchasing an additional 12,158 shares during the period. BNP Paribas Financial Markets acquired a new position in Annexon in the fourth quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Annexon by 164.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,026 shares of the company's stock worth $66,000 after purchasing an additional 21,143 shares during the period. Finally, Hsbc Holdings PLC grew its stake in Annexon by 19.9% during the first quarter. Hsbc Holdings PLC now owns 36,935 shares of the company's stock worth $73,000 after buying an additional 6,136 shares in the last quarter.

Analyst Upgrades and Downgrades

ANNX has been the subject of several research reports. HC Wainwright cut their price target on Annexon from $20.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Needham & Company LLC cut their target price on shares of Annexon from $16.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th.

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.