Insider Buying: Annexon (NASDAQ:ANNX) Director Acquires 422,613 Shares of Stock

Annexon, Inc. (NASDAQ:ANNX) Director Muneer Satter acquired 422,613 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average cost of $4.28 per share, for a total transaction of $1,808,783.64. Following the acquisition, the director owned 9,728,637 shares of the company’s stock, valued at $41,638,566.36. This represents a 4.54% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Annexon Price Performance

Annexon stock remained flat at $4.27 during mid-day trading on Friday. 3,830,149 shares of the company’s stock were exchanged, compared to its average volume of 1,768,223. The business’s 50-day simple moving average is $3.09 and its 200-day simple moving average is $2.58. Annexon, Inc. has a 12 month low of $1.28 and a 12 month high of $5.66. The company has a market cap of $510.83 million, a P/E ratio of -3.31 and a beta of 1.28.

Annexon (NASDAQ:ANNX) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). On average, analysts anticipate that Annexon, Inc. will post -0.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ANNX. Zacks Research upgraded Annexon from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a research note on Wednesday, October 8th. Wells Fargo & Company lifted their target price on shares of Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of Annexon in a report on Friday, August 15th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $17.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ANNX. Nuveen LLC acquired a new stake in Annexon during the first quarter worth approximately $670,000. J. Safra Sarasin Holding AG raised its holdings in Annexon by 49.9% in the 2nd quarter. J. Safra Sarasin Holding AG now owns 381,441 shares of the company’s stock valued at $915,000 after acquiring an additional 126,903 shares during 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 worth $688,000 after purchasing an additional 88,314 shares during the period. Matauro LLC acquired a new stake in shares of Annexon during the second quarter worth $27,000. Finally, XTX Topco Ltd grew its position in shares of Annexon by 65.4% in the first quarter. XTX Topco Ltd now owns 58,130 shares of the company’s stock valued at $112,000 after purchasing an additional 22,979 shares during the period.

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.