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

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

Analyst Upgrades and Downgrades

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

Annexon Stock Down 5.0 %

The business has a 50-day moving average price of $5.72 and a 200-day moving average price of $5.94. The company has a market capitalization of $547.89 million, a price-to-earnings ratio of -4.90 and a beta of 1.11.

Insider Activity at Annexon

In other Annexon 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 value of $40,073.28. Following the completion of the transaction, the executive vice president now owns 71,365 shares of the company’s stock, valued at $528,814.65. This represents a 7.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 12.67% of the stock is owned by insiders.

Hedge Funds Weigh In On Annexon

A number of hedge funds have recently modified their holdings of the stock. Sandia Investment Management LP acquired a new stake in Annexon in the second quarter worth about $49,000. Victory Capital Management Inc. bought a new position in Annexon during the second quarter worth about $51,000. Principal Financial Group Inc. bought a new position in Annexon during the second quarter worth about $56,000. Quarry LP bought a new position in Annexon during the third quarter worth about $118,000. Finally, Intech Investment Management LLC bought a new position in Annexon during the third quarter worth about $154,000.

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.