Annexon (NASDAQ:ANNX) Director Buys $12,550.75 in Stock

Annexon, Inc. (NASDAQ:ANNX) Director William Carson purchased 4,115 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $3.05 per share, for a total transaction of $12,550.75. Following the purchase, the director owned 42,060 shares of the company’s stock, valued at approximately $128,283. This represents a 10.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Annexon Stock Up 2.6%

ANNX stock opened at $3.19 on Friday. The stock’s 50 day moving average is $2.48 and its two-hundred day moving average is $2.26. Annexon, Inc. has a 52-week low of $1.28 and a 52-week high of $7.85. The company has a market capitalization of $350.55 million, a PE ratio of -2.47 and a beta of 1.36.

Annexon (NASDAQ:ANNX) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.02. As a group, sell-side analysts anticipate that Annexon, Inc. will post -0.96 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ANNX. Zacks Research upgraded shares of Annexon from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a report on Saturday, September 27th. Finally, HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Annexon in a report on Friday, August 15th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.50.

Institutional Trading of Annexon

Hedge funds have recently made changes to their positions in the stock. Nuveen LLC acquired a new stake in Annexon in the first quarter worth $670,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Annexon in the 4th quarter worth about $252,000. California State Teachers Retirement System lifted its position in Annexon by 849.0% in the 4th quarter. California State Teachers Retirement System now owns 66,375 shares of the company’s stock valued at $341,000 after purchasing an additional 59,381 shares during the last quarter. Wellington Management Group LLP boosted its stake in Annexon by 32.9% during the 1st quarter. Wellington Management Group LLP now owns 356,480 shares of the company’s stock valued at $688,000 after purchasing an additional 88,314 shares during the period. Finally, Millennium Management LLC grew its position in Annexon by 114.3% in the 4th quarter. Millennium Management LLC now owns 155,676 shares of the company’s stock worth $799,000 after purchasing an additional 83,021 shares during the last quarter.

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.