Annexon (NASDAQ:ANNX) Shares Down 6.1% – Should You Sell?

Shares of Annexon, Inc. (NASDAQ:ANNX) traded down 6.1% on Friday . The company traded as low as $5.82 and last traded at $5.7650. 799,310 shares traded hands during trading, a decline of 70% from the average session volume of 2,644,675 shares. The stock had previously closed at $6.14.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Chardan Capital reaffirmed a “buy” rating and set a $16.00 target price on shares of Annexon in a report on Friday, March 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Annexon Trading Down 4.7%

The firm has a market cap of $938.75 million, a PE ratio of -4.30 and a beta of 1.14. The stock has a fifty day simple moving average of $5.47 and a two-hundred day simple moving average of $4.72.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings data on Monday, March 30th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.04. As a group, sell-side analysts predict that Annexon, Inc. will post -0.96 earnings per share for the current fiscal year.

Insider Activity at Annexon

In other news, EVP Dean Richard Artis sold 5,290 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $5.10, for a total transaction of $26,979.00. Following the completion of the transaction, the executive vice president owned 123,487 shares of the company’s stock, valued at approximately $629,783.70. The trade was a 4.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William H. Carson acquired 8,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average cost of $5.67 per share, with a total value of $45,360.00. Following the acquisition, the director directly owned 62,405 shares of the company’s stock, valued at $353,836.35. This represents a 14.70% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 32,513 shares of company stock valued at $165,973 in the last ninety days. Insiders own 11.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ANNX. CIBC Bancorp USA Inc. purchased a new position in shares of Annexon during the third quarter worth about $31,000. Engineers Gate Manager LP purchased a new position in shares of Annexon during the second quarter worth about $32,000. SG Americas Securities LLC bought a new stake in Annexon in the 3rd quarter worth approximately $34,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Annexon by 65.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock worth $35,000 after buying an additional 2,785 shares during the last quarter. Finally, Savant Capital LLC bought a new stake in Annexon in the 3rd quarter worth approximately $40,000.

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.