Annexon (NASDAQ:ANNX) Director Acquires $12,550.75 in Stock

Key Points

• Director William Carson of Annexon purchased 4,115 shares of the company's stock at an average price of $3.05, totaling $12,550.75, which increased his ownership in the company by 10.84%.
• Annexon currently has a market capitalization of $341.76 million and recently reported a quarterly loss of ($0.34) earnings per share, slightly beating analyst expectations.
• Brokerage firm HC Wainwright maintains a "buy" rating for Annexon with a price target of $14.00, indicating a positive outlook among some analysts for the stock's performance.

Annexon, Inc. (NASDAQ:ANNX - Get Free Report) Director William Carson bought 4,115 shares of the business's stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average cost of $3.05 per share, for a total transaction of $12,550.75. Following the transaction, the director owned 42,060 shares of the company's stock, valued at $128,283. The trade was a 10.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Annexon Price Performance

Shares of NASDAQ ANNX traded up $0.08 during trading on Thursday, hitting $3.11. The stock had a trading volume of 3,010,374 shares, compared to its average volume of 1,641,422. The firm has a fifty day moving average of $2.45 and a two-hundred day moving average of $2.25. The company has a market capitalization of $341.76 million, a PE ratio of -2.41 and a beta of 1.36. Annexon, Inc. has a 12 month low of $1.28 and a 12 month high of $7.85.

Annexon (NASDAQ:ANNX - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.34) earnings per share for the quarter, beating analysts' consensus estimates of ($0.36) by $0.02. On average, equities analysts expect that Annexon, Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ANNX. Nuveen LLC purchased a new stake in Annexon in the 1st quarter worth about $670,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Annexon in the fourth quarter valued at approximately $252,000. California State Teachers Retirement System lifted its stake in shares of Annexon by 849.0% during the 4th quarter. California State Teachers Retirement System now owns 66,375 shares of the company's stock valued at $341,000 after buying an additional 59,381 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Annexon by 32.9% during the 1st quarter. Wellington Management Group LLP now owns 356,480 shares of the company's stock valued at $688,000 after buying an additional 88,314 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Annexon by 114.3% in the 4th quarter. Millennium Management LLC now owns 155,676 shares of the company's stock worth $799,000 after buying an additional 83,021 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ANNX. HC Wainwright reaffirmed a "buy" rating and set a $14.00 price target on shares of Annexon in a research report on Friday, August 15th. Zacks Research raised Annexon from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $12.50.

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.

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