Muneer Satter Purchases 613,497 Shares of Annexon (NASDAQ:ANNX) Stock

Annexon, Inc. (NASDAQ:ANNX) Director Muneer Satter bought 613,497 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was acquired at an average cost of $5.41 per share, with a total value of $3,319,018.77. Following the completion of the transaction, the director directly owned 10,342,134 shares of the company’s stock, valued at approximately $55,950,944.94. This represents a 6.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Annexon Trading Up 0.9%

NASDAQ ANNX traded up $0.05 during trading on Friday, hitting $5.42. 2,136,564 shares of the company traded hands, compared to its average volume of 2,525,294. Annexon, Inc. has a 12 month low of $1.85 and a 12 month high of $7.18. The business has a fifty day simple moving average of $5.63 and a 200 day simple moving average of $5.32. The company has a market capitalization of $888.01 million, a P/E ratio of -4.44 and a beta of 1.22.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. Equities research analysts predict that Annexon, Inc. will post -0.92 EPS for the current fiscal year.

Institutional Trading of Annexon

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Annexon by 13.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,553 shares of the company’s stock valued at $100,000 after purchasing an additional 2,348 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Annexon by 65.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock worth $35,000 after purchasing an additional 2,785 shares during the last quarter. Susquehanna Portfolio Strategies LLC increased its position in shares of Annexon by 0.8% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 356,619 shares of the company’s stock worth $1,790,000 after purchasing an additional 2,875 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Annexon by 21.7% during the 4th quarter. ProShare Advisors LLC now owns 24,698 shares of the company’s stock worth $124,000 after purchasing an additional 4,410 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Annexon by 3.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 134,786 shares of the company’s stock valued at $747,000 after purchasing an additional 4,684 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have commented on ANNX. Wall Street Zen raised Annexon from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a research report on Monday, April 20th. Chardan Capital restated a “buy” rating and issued a $16.00 target price on shares of Annexon in a research note on Friday, March 20th. Finally, The Goldman Sachs Group assumed coverage on Annexon in a research report on Tuesday, May 12th. They issued a “neutral” rating and a $7.00 target price for the company. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $16.00.

Annexon Company Profile

Annexon Inc is a clinical-stage biotechnology company focused on the discovery and development of complement-targeted therapies for patients with neurodegenerative and neuroimmune diseases. The company’s research platform centers on the inhibition of the C1 complex, a key initiator of the classical complement pathway implicated in several rare and life-threatening disorders. By selectively targeting upstream complement activation, Annexon aims to prevent the aberrant immune-mediated damage that characterizes conditions such as Guillain-Barré syndrome (GBS) and autoimmune neuropathies.

At the core of Annexon’s pipeline is ANX005, a humanized monoclonal antibody directed against the C1q subcomponent, currently in Phase 2 clinical trials for acute GBS and chronic neurodegenerative indications.