Annexon (NASDAQ:ANNX) Stock Price Down 5.3% Following Insider Selling

Annexon, Inc. (NASDAQ:ANNX) traded down 5.3% during trading on Monday following insider selling activity. The company traded as low as $6.66 and last traded at $6.66. 276,561 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 1,929,670 shares. The stock had previously closed at $7.03.

Specifically, EVP Ted Yednock sold 4,500 shares of Annexon stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $7.10, for a total transaction of $31,950.00. Following the sale, the executive vice president now owns 71,365 shares of the company’s stock, valued at approximately $506,691.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

ANNX has been the subject of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Annexon in a research report on Tuesday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Monday, September 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.00 price objective on shares of Annexon in a research note on Tuesday, August 13th. Six research 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.

Annexon Trading Down 5.4 %

The firm has a market capitalization of $614.55 million, a P/E ratio of -4.52 and a beta of 1.28. The business’s fifty day moving average is $6.06 and its 200 day moving average is $5.59.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.23) EPS for the quarter, meeting analysts’ consensus estimates of ($0.23). As a group, sell-side analysts predict that Annexon, Inc. will post -0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ANNX. Ameritas Investment Partners Inc. raised its position in Annexon by 78.2% during the first quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock valued at $48,000 after buying an additional 2,949 shares during the period. Comerica Bank acquired a new position in shares of Annexon in the first quarter worth $72,000. Sandia Investment Management LP acquired a new position in shares of Annexon in the second quarter worth $49,000. Victory Capital Management Inc. acquired a new stake in Annexon during the second quarter valued at $51,000. Finally, Principal Financial Group Inc. purchased a new position in Annexon in the second quarter valued at about $56,000.

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.