Annexon (NASDAQ:ANNX) Shares Down 2.7%

Annexon, Inc. (NASDAQ:ANNX)’s stock price was down 2.7% during trading on Tuesday . The company traded as low as $6.96 and last traded at $6.97. Approximately 213,959 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,900,209 shares. The stock had previously closed at $7.16.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ANNX shares. Needham & Company LLC reiterated a “buy” rating and set a $16.00 target price on shares of Annexon in a research note on Tuesday, August 13th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Annexon in a report on Tuesday, August 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research note on Monday, September 9th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $15.80.

Annexon Stock Performance

The company has a market capitalization of $649.20 million, a P/E ratio of -4.78 and a beta of 1.28. The stock has a fifty day moving average of $6.00 and a 200 day moving average of $5.56.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.23) EPS for the quarter, hitting the consensus estimate of ($0.23). Research analysts anticipate that Annexon, Inc. will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling at Annexon

In other news, EVP Ted Yednock sold 5,500 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $5.95, for a total value of $32,725.00. Following the completion of the sale, the executive vice president now directly owns 15,500 shares of the company’s stock, valued at $92,225. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have bought 9,600 shares of company stock valued at $53,504 and have sold 12,888 shares valued at $75,122. Insiders own 12.67% of the company’s stock.

Hedge Funds Weigh In On Annexon

Hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. lifted its holdings in Annexon by 78.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock worth $48,000 after purchasing an additional 2,949 shares in the last quarter. Sandia Investment Management LP bought a new stake in shares of Annexon during the second quarter valued at approximately $49,000. Victory Capital Management Inc. purchased a new position in shares of Annexon in the second quarter worth $51,000. Principal Financial Group Inc. bought a new position in shares of Annexon during the second quarter worth $56,000. Finally, Comerica Bank purchased a new position in Annexon during the first quarter valued at $72,000.

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.