Annexon (NASDAQ:ANNX) Stock Price Down 2.5% on Insider Selling

Annexon, Inc. (NASDAQ:ANNX) shares traded down 2.5% on Friday after an insider sold shares in the company. The company traded as low as $5.75 and last traded at $5.78. 96,409 shares traded hands during trading, a decline of 95% from the average session volume of 1,965,283 shares. The stock had previously closed at $5.93.

Specifically, EVP Ted Yednock sold 5,500 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 15,500 shares in the company, valued at $92,225. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Wall Street Analysts Forecast Growth

ANNX has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price target on shares of Annexon from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, May 15th. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Annexon in a report on Tuesday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Annexon in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Wednesday, June 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $15.80.

Annexon Stock Down 3.9 %

The stock has a market cap of $526.75 million, a PE ratio of -3.88 and a beta of 1.29. The company has a fifty day moving average price of $5.61 and a 200 day moving average price of $5.47.

Annexon (NASDAQ:ANNX) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.23) earnings per share for the quarter, meeting the consensus estimate of ($0.23). As a group, research analysts predict that Annexon, Inc. will post -0.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. lifted its position in shares of Annexon by 78.2% during the 1st 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 in the last quarter. Allegheny Financial Group LTD boosted its holdings in Annexon by 16.1% in the 2nd quarter. Allegheny Financial Group LTD now owns 25,200 shares of the company’s stock worth $123,000 after buying an additional 3,500 shares during the period. Comerica Bank purchased a new stake in Annexon in the 1st quarter worth $72,000. Sandia Investment Management LP bought a new stake in Annexon during the second quarter valued at about $49,000. Finally, Victory Capital Management Inc. bought a new stake in Annexon during the 2nd quarter valued at approximately $51,000.

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.