Annexon (NASDAQ:ANNX) Stock Price Down 4.3% – What’s Next?

Annexon, Inc. (NASDAQ:ANNX)’s stock price fell 4.3% during mid-day trading on Monday . The stock traded as low as $5.14 and last traded at $5.18. 84,624 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 735,833 shares. The stock had previously closed at $5.41.

Analyst Ratings Changes

Several research firms have issued reports on ANNX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research report on Friday, November 15th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price objective on shares of Annexon in a research report on Friday, November 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Annexon in a research report on Tuesday, December 17th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Annexon currently has an average rating of “Buy” and a consensus target price of $15.80.

Annexon Stock Performance

The stock has a market cap of $547.89 million, a PE ratio of -4.90 and a beta of 1.11. The business has a 50-day moving average of $5.72 and a 200 day moving average of $5.94.

Insider Buying and Selling

In other Annexon news, EVP Ted Yednock sold 5,408 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $7.41, for a total value of $40,073.28. Following the sale, the executive vice president now directly owns 71,365 shares of the company’s stock, valued at approximately $528,814.65. This trade represents a 7.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Annexon

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in Annexon by 42.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 258,033 shares of the company’s stock worth $1,264,000 after acquiring an additional 77,417 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Annexon during the 2nd quarter worth approximately $56,000. Rhumbline Advisers increased its holdings in Annexon by 54.5% during the 2nd quarter. Rhumbline Advisers now owns 126,659 shares of the company’s stock worth $621,000 after purchasing an additional 44,681 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Annexon during the 2nd quarter worth approximately $51,000. Finally, Candriam S.C.A. purchased a new stake in Annexon during the 2nd quarter worth approximately $10,061,000.

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.