Annexon (NASDAQ:ANNX) Trading Down 4.5%

Annexon, Inc. (NASDAQ:ANNX - Get Free Report)'s stock price was down 4.5% during mid-day trading on Monday . The company traded as low as $5.91 and last traded at $5.91. Approximately 182,025 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 1,516,460 shares. The stock had previously closed at $6.19.

Analyst Ratings Changes

ANNX has been the subject of a number of analyst reports. Bank of America upped their price objective on Annexon from $7.00 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, March 28th. Wells Fargo & Company boosted their price target on Annexon from $11.00 to $12.00 and gave the company an "overweight" rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. raised their price objective on Annexon from $11.00 to $13.00 and gave the stock an "overweight" rating in a research note on Monday, April 1st. HC Wainwright reiterated a "buy" rating and issued a $30.00 target price on shares of Annexon in a research report on Wednesday, March 27th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $16.00 price target on shares of Annexon in a report on Wednesday, March 27th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $14.43.

Annexon Price Performance

The firm has a market capitalization of $544.68 million, a price-to-earnings ratio of -3.40 and a beta of 1.14. The stock has a 50 day moving average price of $5.62 and a two-hundred day moving average price of $3.89.

Insider Transactions at Annexon

In other news, CEO Douglas Love sold 5,782 shares of the business's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $5.54, for a total value of $32,032.28. Following the completion of the sale, the chief executive officer now directly owns 196,121 shares of the company's stock, valued at approximately $1,086,510.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 8,940 shares of company stock valued at $49,514. 19.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Annexon

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in Annexon by 23.9% during the 1st quarter. JPMorgan Chase & Co. now owns 91,090 shares of the company's stock worth $249,000 after purchasing an additional 17,550 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Annexon during the 1st quarter valued at approximately $388,000. Vanguard Group Inc. increased its position in shares of Annexon by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 1,095,032 shares of the company's stock worth $2,990,000 after purchasing an additional 19,722 shares during the last quarter. Federated Hermes Inc. raised its stake in Annexon by 50.7% during the first quarter. Federated Hermes Inc. now owns 3,052,651 shares of the company's stock valued at $8,334,000 after buying an additional 1,027,051 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Annexon during the 1st quarter valued at approximately $100,000.

About Annexon

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune, neurodegenerative, and ophthalmic disorders. The company's C1q is an initiating molecule of the classical complement pathway that targets distinct disease processes, such as antibody-mediated autoimmune disease and complement-mediated neurodegeneration.