Annexon (NASDAQ:ANNX) Director Muneer Satter Buys 613,497 Shares

Annexon, Inc. (NASDAQ:ANNX) Director Muneer Satter acquired 613,497 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was purchased at an average cost of $5.41 per share, with a total value of $3,319,018.77. Following the completion of the acquisition, the director owned 10,342,134 shares of the company’s stock, valued at $55,950,944.94. The trade was a 6.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Annexon Price Performance

Shares of NASDAQ ANNX traded up $0.05 during midday trading on Friday, hitting $5.42. 2,136,564 shares of the company’s stock were exchanged, compared to its average volume of 2,525,294. The stock’s 50 day moving average price is $5.63 and its 200-day moving average price is $5.32. The firm has a market cap of $888.01 million, a P/E ratio of -4.44 and a beta of 1.22. Annexon, Inc. has a twelve month low of $1.85 and a twelve month high of $7.18.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.07. On average, analysts expect that Annexon, Inc. will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in Annexon by 165.3% in the 1st quarter. Bank of America Corp DE now owns 4,259,995 shares of the company’s stock worth $23,600,000 after buying an additional 2,654,414 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Annexon during the 1st quarter valued at $328,000. ADAR1 Capital Management LLC grew its holdings in shares of Annexon by 14.6% during the 1st quarter. ADAR1 Capital Management LLC now owns 55,000 shares of the company’s stock valued at $305,000 after acquiring an additional 7,000 shares in the last quarter. Redmile Group LLC increased its stake in shares of Annexon by 44.8% in the first quarter. Redmile Group LLC now owns 14,549,768 shares of the company’s stock worth $80,606,000 after acquiring an additional 4,499,124 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Annexon by 3.6% in the first quarter. The Manufacturers Life Insurance Company now owns 134,786 shares of the company’s stock worth $747,000 after acquiring an additional 4,684 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have issued reports on ANNX. Chardan Capital reaffirmed a “buy” rating and set a $16.00 price target on shares of Annexon in a research note on Friday, March 20th. Wall Street Zen upgraded Annexon from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a report on Monday, April 20th. Finally, The Goldman Sachs Group assumed coverage on Annexon in a research report on Tuesday, May 12th. They issued a “neutral” rating and a $7.00 price target for the company. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Annexon currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Annexon Company Profile

Annexon Inc is a clinical-stage biotechnology company focused on the discovery and development of complement-targeted therapies for patients with neurodegenerative and neuroimmune diseases. The company’s research platform centers on the inhibition of the C1 complex, a key initiator of the classical complement pathway implicated in several rare and life-threatening disorders. By selectively targeting upstream complement activation, Annexon aims to prevent the aberrant immune-mediated damage that characterizes conditions such as Guillain-Barré syndrome (GBS) and autoimmune neuropathies.

At the core of Annexon’s pipeline is ANX005, a humanized monoclonal antibody directed against the C1q subcomponent, currently in Phase 2 clinical trials for acute GBS and chronic neurodegenerative indications.