Insider Selling: Annexon, Inc. (NASDAQ:ANNX) CEO Sells 5,021 Shares of Stock

Annexon, Inc. (NASDAQ:ANNX) CEO Douglas Love sold 5,021 shares of Annexon stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $2.95, for a total value of $14,811.95. Following the transaction, the chief executive officer now owns 351,554 shares in the company, valued at approximately $1,037,084.30. This represents a 1.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Annexon Price Performance

Shares of Annexon stock traded down $0.37 on Tuesday, reaching $2.70. 1,478,333 shares of the company were exchanged, compared to its average volume of 1,413,788. Annexon, Inc. has a 1-year low of $2.70 and a 1-year high of $8.40. The company has a market cap of $287.79 million, a P/E ratio of -2.57 and a beta of 1.07. The stock’s 50 day moving average price is $4.41 and its 200-day moving average price is $5.63.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Annexon

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in shares of Annexon by 16.0% during the third quarter. JPMorgan Chase & Co. now owns 1,706,182 shares of the company’s stock worth $10,101,000 after buying an additional 235,810 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Annexon by 18.3% during the third quarter. Geode Capital Management LLC now owns 2,143,635 shares of the company’s stock worth $12,693,000 after buying an additional 331,269 shares in the last quarter. Barclays PLC grew its position in shares of Annexon by 212.0% during the third quarter. Barclays PLC now owns 177,765 shares of the company’s stock worth $1,052,000 after buying an additional 120,789 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Annexon by 221.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 732,216 shares of the company’s stock worth $4,335,000 after buying an additional 504,656 shares in the last quarter. Finally, FMR LLC lifted its stake in Annexon by 3.2% during the third quarter. FMR LLC now owns 8,561,949 shares of the company’s stock worth $50,687,000 after purchasing an additional 262,229 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.