Annexon (NASDAQ:ANNX) Trading Down 3.5%

Annexon, Inc. (NASDAQ:ANNX)’s share price traded down 3.5% during mid-day trading on Monday . The stock traded as low as $5.76 and last traded at $5.77. 90,755 shares were traded during trading, a decline of 94% from the average session volume of 1,493,529 shares. The stock had previously closed at $5.98.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased 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. Bank of America raised their target price on Annexon from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Annexon in a research note on Wednesday, March 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Wednesday, April 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price target on shares of Annexon in a report on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $14.43.

Annexon Trading Down 10.9 %

The firm has a market cap of $460.48 million, a P/E ratio of -2.87 and a beta of 1.14. The company has a fifty day moving average price of $5.80 and a two-hundred day moving average price of $4.02.

Insider Activity

In related news, CEO Douglas Love sold 5,782 shares of Annexon stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $5.54, for a total value of $32,032.28. Following the sale, the chief executive officer now owns 196,121 shares of the company’s stock, valued at approximately $1,086,510.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 8,940 shares of company stock worth $49,514 in the last 90 days. Corporate insiders own 19.11% of the company’s stock.

Institutional Investors Weigh In On Annexon

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Annexon by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 1,908,326 shares of the company’s stock worth $8,664,000 after purchasing an additional 13,917 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Annexon by 16.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 284,933 shares of the company’s stock worth $1,294,000 after purchasing an additional 39,275 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Annexon during the 4th quarter worth approximately $221,000. Price T Rowe Associates Inc. MD bought a new position in shares of Annexon during the 4th quarter worth approximately $57,000. Finally, Barclays PLC boosted its stake in shares of Annexon by 418.7% during the 4th quarter. Barclays PLC now owns 185,331 shares of the company’s stock worth $841,000 after acquiring an additional 149,600 shares during the period.

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.