Insider Buying: Annexon (NASDAQ:ANNX) CEO Buys $99,828.95 in Stock

Key Points

• Annexon CEO Douglas Love purchased 26,065 shares at an average price of $3.83, investing $99,828.95 and increasing his ownership by 7.15% to 390,476 shares.
• ANNX shares fell 4.2% to $3.64, with the stock trading well below its 50-day and 200-day moving averages. Annexon also reported a quarterly loss of $0.28 per share, missing analyst expectations of a $0.24 loss.
• Analyst sentiment is mixed: six analysts rate the stock Buy, two Hold, and two Sell, resulting in a consensus Hold rating and an average price target of $15.14.

Annexon, Inc. (NASDAQ:ANNX - Get Free Report) CEO Douglas Love bought 26,065 shares of the stock in a transaction dated Thursday, September 24th. The stock was purchased at an average cost of $3.83 per share, for a total transaction of $99,828.95. Following the acquisition, the chief executive officer owned 390,476 shares of the company's stock, valued at approximately $1,495,523.08. This represents a 7.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Annexon Trading Down 4.2%

Shares of ANNX traded down $0.16 during mid-day trading on Friday, hitting $3.64. The company's stock had a trading volume of 3,496,072 shares, compared to its average volume of 2,941,679. Annexon, Inc. has a 1-year low of $2.54 and a 1-year high of $7.18. The firm has a 50-day simple moving average of $4.91 and a 200 day simple moving average of $5.32. The firm has a market capitalization of $690.07 million, a P/E ratio of -3.14 and a beta of 1.21.

Annexon (NASDAQ:ANNX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.04). As a group, sell-side analysts predict that Annexon, Inc. will post -1.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Annexon

Several institutional investors and hedge funds have recently bought and sold shares of the business. WINTON GROUP Ltd raised its holdings in shares of Annexon by 98.3% during the second quarter. WINTON GROUP Ltd now owns 47,800 shares of the company's stock valued at $273,000 after buying an additional 23,700 shares during the last quarter. Engineers Gate Manager LP raised its stake in shares of Annexon by 83.2% in the 2nd quarter. Engineers Gate Manager LP now owns 319,057 shares of the company's stock worth $1,822,000 after buying an additional 144,916 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Annexon by 32.3% during the second quarter. Integrated Wealth Concepts LLC now owns 13,537 shares of the company's stock worth $77,000 after buying an additional 3,305 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Annexon by 155.0% during the second quarter. Squarepoint Ops LLC now owns 173,285 shares of the company's stock valued at $989,000 after purchasing an additional 105,329 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Annexon in the 2nd quarter worth about $310,000.

Wall Street Analyst Weigh In

ANNX has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Annexon in a report on Monday, July 13th. Wall Street Zen downgraded shares of Annexon from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. HC Wainwright reissued a "buy" rating and issued a $14.00 price objective on shares of Annexon in a research report on Monday, July 20th. Needham & Company LLC increased their price objective on shares of Annexon from $11.00 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. Finally, Citizens Jmp upgraded shares of Annexon from an "underperform" rating to a "market perform" rating in a research note on Thursday, August 13th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Annexon currently has a consensus rating of "Hold" and an average price target 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.

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