Annexon (NASDAQ:ANNX) Director Muneer Satter Purchases 500,000 Shares

Annexon, Inc. (NASDAQ:ANNX) Director Muneer Satter purchased 500,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $3.94 per share, for a total transaction of $1,970,000.00. Following the acquisition, the director owned 8,906,024 shares in the company, valued at $35,089,734.56. This trade represents a 5.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Annexon Stock Performance

Shares of Annexon stock opened at $4.06 on Thursday. The business has a 50-day simple moving average of $3.02 and a 200-day simple moving average of $2.56. Annexon, Inc. has a one year low of $1.28 and a one year high of $5.66. The company has a market cap of $485.71 million, a PE ratio of -3.15 and a beta of 1.28.

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

Institutional Trading of Annexon

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANNX. Jacobs Levy Equity Management Inc. purchased a new position in shares of Annexon in the 3rd quarter valued at approximately $69,000. Woodline Partners LP lifted its holdings in shares of Annexon by 150.4% during the third quarter. Woodline Partners LP now owns 2,638,275 shares of the company’s stock worth $8,047,000 after purchasing an additional 1,584,566 shares during the period. Quarry LP grew its position in Annexon by 155.0% in the 3rd quarter. Quarry LP now owns 110,000 shares of the company’s stock valued at $336,000 after buying an additional 66,867 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in Annexon by 34.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 572,644 shares of the company’s stock valued at $1,747,000 after buying an additional 147,924 shares during the period. Finally, Millennium Management LLC raised its position in Annexon by 12.3% during the 3rd quarter. Millennium Management LLC now owns 2,822,823 shares of the company’s stock worth $8,610,000 after buying an additional 308,689 shares during the last quarter.

Analyst Upgrades and Downgrades

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

About Annexon

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.