Key Points
- CEO Douglas Love purchased 26,065 Annexon shares at an average price of $3.83, investing approximately $99,829 and increasing his ownership by 7.15% to 390,476 shares.
- Annexon shares opened at $3.64 after falling 4.2%; the company reported a quarterly loss of $0.28 per share, missing the $0.24 consensus estimate.
- Analyst sentiment is mixed, with a consensus rating of “Hold” and a $15.14 target price, while several institutional investors increased their positions during the second quarter.
Annexon, Inc. (NASDAQ:ANNX - Get Free Report) CEO Douglas Love acquired 26,065 shares of Annexon stock in a transaction that occurred on Thursday, September 24th. The shares were purchased at an average price of $3.83 per share, with a total value of $99,828.95. Following the purchase, the chief executive officer owned 390,476 shares in the company, valued at $1,495,523.08. This represents a 7.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Annexon Stock Down 4.2%
NASDAQ:ANNX opened at $3.64 on Friday. The stock has a market capitalization of $690.07 million, a price-to-earnings ratio of -3.14 and a beta of 1.21. Annexon, Inc. has a 52 week low of $2.54 and a 52 week high of $7.18. The firm has a 50 day moving average of $4.87 and a 200 day moving average of $5.31.
Annexon (NASDAQ:ANNX - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.04). As a group, analysts expect that Annexon, Inc. will post -1.04 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on ANNX shares. HC Wainwright restated a "buy" rating and set a $14.00 target price on shares of Annexon in a research note on Monday, July 20th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Annexon in a research note on Monday, July 13th. JPMorgan Chase & Co. raised their price target on Annexon from $10.00 to $14.00 and gave the stock an "overweight" rating in a report on Tuesday, September 1st. Citizens Jmp upgraded Annexon from an "underperform" rating to a "market perform" rating in a research note on Thursday, August 13th. Finally, Citigroup initiated coverage on Annexon in a research note on Tuesday, July 21st. They set a "market underperform" rating on the stock. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $15.14.
View Our Latest Report on ANNX
Institutional Investors Weigh In On Annexon
Several institutional investors and hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd increased its position in shares of Annexon by 98.3% in the 2nd quarter. WINTON GROUP Ltd now owns 47,800 shares of the company's stock valued at $273,000 after acquiring an additional 23,700 shares during the period. Engineers Gate Manager LP lifted its position in Annexon by 83.2% during the 2nd quarter. Engineers Gate Manager LP now owns 319,057 shares of the company's stock worth $1,822,000 after acquiring an additional 144,916 shares during the period. Integrated Wealth Concepts LLC lifted its position in Annexon by 32.3% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 13,537 shares of the company's stock worth $77,000 after acquiring an additional 3,305 shares during the period. Squarepoint Ops LLC grew its stake in Annexon by 155.0% during the 2nd quarter. Squarepoint Ops LLC now owns 173,285 shares of the company's stock valued at $989,000 after purchasing an additional 105,329 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Annexon during the 2nd quarter valued at about $310,000.
Annexon Company Profile
(
Get Free Report)
Annexon, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for diseases driven by the classical complement pathway, an immune system mechanism that can contribute to inflammation and the destruction of healthy cells. The company's approach is designed to selectively inhibit complement activity while preserving other potentially beneficial immune functions.
Annexon's lead programs include ANX005, an investigational monoclonal antibody that targets C1q and is being evaluated in immune-mediated and neuroinflammatory conditions, including Guillain-Barré syndrome.
Further Reading
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