Insider Buying: Annexon (NASDAQ:ANNX) Director Purchases 8,000 Shares of Stock

Key Points

• Director William Carson bought 8,000 shares of Annexon on April 10 at an average price of $6.20 per share (total $49,600) under a pre-arranged Rule 10b5-1 plan, increasing his holdings to 70,405 shares (a 12.82% increase).
• Annexon shares traded near $5.80 (52-week range $1.40–$7.18) with a market cap around $931M, and analysts hold a "Moderate Buy" consensus with a $17.00 average price target.

Annexon, Inc. (NASDAQ:ANNX - Get Free Report) Director William Carson acquired 8,000 shares of Annexon stock in a transaction on Friday, April 10th. The shares were bought at an average price of $6.20 per share, for a total transaction of $49,600.00. Following the purchase, the director owned 70,405 shares of the company's stock, valued at $436,511. This represents a 12.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Annexon Stock Performance

Shares of NASDAQ ANNX traded down $0.01 during midday trading on Tuesday, reaching $5.80. 2,145,229 shares of the company's stock were exchanged, compared to its average volume of 2,641,055. Annexon, Inc. has a 52-week low of $1.40 and a 52-week high of $7.18. The business's fifty day moving average price is $5.46 and its two-hundred day moving average price is $4.75. The stock has a market capitalization of $930.75 million, a PE ratio of -4.26 and a beta of 1.14.

Annexon (NASDAQ:ANNX - Get Free Report) last released its quarterly earnings results on Monday, March 30th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.04. Analysts predict that Annexon, Inc. will post -0.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ANNX has been the topic of several recent analyst reports. Chardan Capital reiterated a "buy" rating and issued a $16.00 price target on shares of Annexon in a research note on Friday, March 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Annexon in a research note on Wednesday, January 21st. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Annexon in a research note on Wednesday, January 14th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Annexon has an average rating of "Moderate Buy" and a consensus price target of $17.00.

Institutional Trading of Annexon

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rhenman & Partners Asset Management AB increased its holdings in Annexon by 78.9% in the third quarter. Rhenman & Partners Asset Management AB now owns 823,000 shares of the company's stock valued at $2,510,000 after buying an additional 363,000 shares during the last quarter. Mount Vernon Associates Inc. MD bought a new stake in Annexon in the fourth quarter valued at about $53,000. Hennion & Walsh Asset Management Inc. increased its holdings in Annexon by 12.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 534,986 shares of the company's stock valued at $2,686,000 after buying an additional 59,057 shares during the last quarter. AXQ Capital LP bought a new stake in Annexon in the third quarter valued at about $85,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Annexon by 60.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 35,261 shares of the company's stock valued at $108,000 after buying an additional 13,225 shares during the last quarter.

Annexon Company Profile

Annexon Inc is a clinical-stage biotechnology company focused on the discovery and development of complement-targeted therapies for patients with neurodegenerative and neuroimmune diseases. The company's research platform centers on the inhibition of the C1 complex, a key initiator of the classical complement pathway implicated in several rare and life-threatening disorders. By selectively targeting upstream complement activation, Annexon aims to prevent the aberrant immune-mediated damage that characterizes conditions such as Guillain-Barré syndrome (GBS) and autoimmune neuropathies.

At the core of Annexon's pipeline is ANX005, a humanized monoclonal antibody directed against the C1q subcomponent, currently in Phase 2 clinical trials for acute GBS and chronic neurodegenerative indications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.