Annexon (NASDAQ:ANNX) Trading Down 4.2% – Should You Sell?

Annexon, Inc. (NASDAQ:ANNX)’s share price fell 4.2% during trading on Monday . The stock traded as low as $5.80 and last traded at $5.86. 391,284 shares were traded during trading, a decline of 78% from the average session volume of 1,812,867 shares. The stock had previously closed at $6.12.

Analyst Ratings Changes

Several analysts recently weighed in on ANNX shares. Needham & Company LLC restated a “buy” rating and issued a $16.00 price objective on shares of Annexon in a report on Friday. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Annexon in a research note on Friday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Friday. Six equities 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 target price of $15.80.

Annexon Price Performance

The company has a market capitalization of $576.85 million, a PE ratio of -5.38 and a beta of 1.23. The firm’s fifty day simple moving average is $6.91 and its 200 day simple moving average is $5.93.

Insider Activity

In related news, EVP Ted Yednock sold 5,500 shares of Annexon stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $5.95, for a total value of $32,725.00. Following the completion of the transaction, the executive vice president now owns 15,500 shares in the company, valued at approximately $92,225. The trade was a 26.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 20,908 shares of company stock valued at $135,768. 12.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Annexon

A number of hedge funds have recently modified their holdings of ANNX. Price T Rowe Associates Inc. MD increased its stake in shares of Annexon by 10,482.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,323,704 shares of the company’s stock worth $9,492,000 after acquiring an additional 1,311,195 shares during the period. Vanguard Group Inc. lifted its stake in Annexon by 96.4% in the 1st quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock valued at $26,871,000 after buying an additional 1,839,329 shares in the last quarter. Point72 Europe London LLP acquired a new stake in shares of Annexon during the 2nd quarter worth about $1,150,000. Point72 Asset Management L.P. lifted its stake in shares of Annexon by 16.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock worth $29,346,000 after purchasing an additional 832,617 shares during the period. Finally, Bellevue Group AG purchased a new stake in Annexon in the first quarter valued at approximately $15,647,000.

Annexon Company Profile

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.