Annexon (NASDAQ:ANNX) Stock Price Down 3.8% – Should You Sell?

Annexon, Inc. (NASDAQ:ANNX)’s stock price was down 3.8% during mid-day trading on Thursday . The stock traded as low as $4.75 and last traded at $4.76. Approximately 57,542 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 1,781,109 shares. The stock had previously closed at $4.95.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Annexon in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $16.00 target price on shares of Annexon in a research note on Friday, November 15th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a report on Friday, November 15th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $15.80.

Annexon Trading Up 0.2 %

The stock has a market capitalization of $557.49 million, a P/E ratio of -4.98 and a beta of 1.10. The company has a fifty day simple moving average of $6.17 and a two-hundred day simple moving average of $5.98.

Insider Activity

In related news, EVP Ted Yednock sold 5,408 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $7.41, for a total transaction of $40,073.28. Following the completion of the sale, the executive vice president now directly owns 71,365 shares of the company’s stock, valued at approximately $528,814.65. This represents a 7.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sandia Investment Management LP acquired a new position in Annexon in the 2nd quarter worth $49,000. Victory Capital Management Inc. acquired a new position in shares of Annexon in the second quarter valued at $51,000. Principal Financial Group Inc. acquired a new position in Annexon in the 2nd quarter valued at about $56,000. Quarry LP bought a new stake in Annexon in the 3rd quarter valued at $118,000. Finally, Allegheny Financial Group LTD boosted its position in shares of Annexon by 16.1% in the second quarter. Allegheny Financial Group LTD now owns 25,200 shares of the company’s stock valued at $123,000 after acquiring an additional 3,500 shares during the period.

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.