Annexon (NASDAQ:ANNX) Director Jung Choi Acquires 33,000 Shares

Annexon, Inc. (NASDAQ:ANNX) Director Jung Choi acquired 33,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were bought at an average cost of $4.19 per share, with a total value of $138,270.00. Following the completion of the purchase, the director owned 33,000 shares of the company’s stock, valued at $138,270. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Annexon Trading Up 5.4%

NASDAQ ANNX opened at $4.28 on Thursday. Annexon, Inc. has a 12 month low of $1.28 and a 12 month high of $5.66. The stock has a 50-day simple moving average of $3.35 and a 200 day simple moving average of $2.73. The company has a market capitalization of $512.03 million, a PE ratio of -3.04 and a beta of 1.20.

Annexon (NASDAQ:ANNX) last posted its earnings results on Monday, November 10th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.03). As a group, sell-side analysts predict that Annexon, Inc. will post -0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Annexon

A number of large investors have recently added to or reduced their stakes in the company. Woodline Partners LP lifted its holdings in shares of Annexon by 150.4% in the third quarter. Woodline Partners LP now owns 2,638,275 shares of the company’s stock valued at $8,047,000 after purchasing an additional 1,584,566 shares in the last quarter. Sio Capital Management LLC grew its holdings in shares of Annexon by 20.5% during the second quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock worth $9,830,000 after buying an additional 697,978 shares in the last quarter. Vanguard Group Inc. raised its position in Annexon by 8.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,835,112 shares of the company’s stock valued at $17,797,000 after buying an additional 469,073 shares during the last quarter. Bank of America Corp DE lifted its stake in Annexon by 39.9% in the 2nd quarter. Bank of America Corp DE now owns 1,452,795 shares of the company’s stock valued at $3,487,000 after acquiring an additional 414,071 shares in the last quarter. Finally, Rhenman & Partners Asset Management AB boosted its position in Annexon by 78.9% during the 3rd quarter. Rhenman & Partners Asset Management AB now owns 823,000 shares of the company’s stock worth $2,510,000 after acquiring an additional 363,000 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ANNX shares. Zacks Research raised shares of Annexon from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, October 8th. Wells Fargo & Company raised their price objective on Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 19th. Finally, HC Wainwright reissued a “buy” rating and issued a $14.00 target price on shares of Annexon in a research note on Friday, August 15th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $17.33.

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.