Annexon (NASDAQ:ANNX) Stock Price Down 4.3% – Here’s What Happened

Annexon, Inc. (NASDAQ:ANNX)’s stock price traded down 4.3% on Monday . The company traded as low as $5.14 and last traded at $5.18. 84,624 shares were traded 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.

Analysts Set New Price Targets

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

Annexon Stock Down 4.2 %

The firm’s fifty day moving average price is $5.62 and its 200-day moving average price is $5.94. The stock has a market cap of $515.91 million, a P/E ratio of -4.61 and a beta of 1.11.

Insider Activity

In related news, EVP Ted Yednock sold 5,408 shares of the company’s 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 transaction, the executive vice president now owns 71,365 shares in the company, valued at $528,814.65. This represents a 7.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Parkman Healthcare Partners LLC boosted its stake in shares of Annexon by 0.5% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 328,613 shares of the company’s stock valued at $1,945,000 after purchasing an additional 1,768 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Annexon by 1.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 159,586 shares of the company’s stock worth $945,000 after acquiring an additional 2,450 shares during the period. GSA Capital Partners LLP raised its position in shares of Annexon by 10.7% in the 3rd quarter. GSA Capital Partners LLP now owns 34,581 shares of the company’s stock worth $205,000 after acquiring an additional 3,355 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Annexon by 11.8% in the 3rd quarter. MetLife Investment Management LLC now owns 55,212 shares of the company’s stock valued at $327,000 after purchasing an additional 5,814 shares during the period. Finally, Creative Planning lifted its stake in shares of Annexon by 29.5% in the 3rd quarter. Creative Planning now owns 34,779 shares of the company’s stock valued at $206,000 after purchasing an additional 7,914 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.