Annexon (NASDAQ:ANNX) Stock Price Down 0.7% - Should You Sell?

Annexon, Inc. (NASDAQ:ANNX - Get Free Report) shares dropped 0.7% during trading on Tuesday . The stock traded as low as $2.70 and last traded at $2.71. Approximately 1,256,948 shares were traded during trading, a decline of 14% from the average daily volume of 1,455,474 shares. The stock had previously closed at $2.73.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. HC Wainwright dropped their price objective on Annexon from $20.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Needham & Company LLC dropped their target price on Annexon from $16.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th.

Annexon Price Performance

The firm has a market capitalization of $297.31 million, a price-to-earnings ratio of -2.30 and a beta of 1.30. The firm has a 50 day moving average price of $2.24 and a 200-day moving average price of $2.80.

Annexon (NASDAQ:ANNX - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.07). Equities research analysts predict that Annexon, Inc. will post -0.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANNX. BNP Paribas Financial Markets acquired a new position in shares of Annexon during the 4th quarter worth about $59,000. Legal & General Group Plc boosted its holdings in Annexon by 516.7% in the fourth quarter. Legal & General Group Plc now owns 85,535 shares of the company's stock valued at $439,000 after purchasing an additional 71,665 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Annexon in the fourth quarter valued at approximately $252,000. Nuveen Asset Management LLC raised its holdings in Annexon by 6.5% during the fourth quarter. Nuveen Asset Management LLC now owns 2,720,485 shares of the company's stock worth $13,956,000 after purchasing an additional 164,915 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in shares of Annexon during the 4th quarter worth approximately $177,000.

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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