Annexon (NASDAQ:ANNX) Trading Down 4.3% – Time to Sell?

Annexon, Inc. (NASDAQ:ANNX)’s stock price traded down 4.3% on Monday . The company traded as low as $5.14 and last traded at $5.18. 84,624 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 735,833 shares. The stock had previously closed at $5.41.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Annexon in a research report on Tuesday, December 17th. Needham & Company LLC reiterated a “buy” rating and set a $16.00 target price on shares of Annexon in a report on Friday, November 15th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research note on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Annexon currently has an average rating of “Buy” and an average price target of $15.80.

Annexon Stock Down 4.2 %

The firm’s fifty day simple moving average is $5.62 and its 200-day simple moving average is $5.94. The firm has a market capitalization of $515.91 million, a PE ratio of -4.61 and a beta of 1.11.

Insider Buying and Selling

In related news, EVP Ted Yednock sold 5,408 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $7.41, for a total transaction of $40,073.28. Following the sale, the executive vice president now directly owns 71,365 shares of the company’s stock, valued at $528,814.65. This trade represents a 7.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 12.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On Annexon

Several hedge funds and other institutional investors have recently bought and sold shares of ANNX. Sandia Investment Management LP bought a new stake in shares of Annexon in the second quarter worth approximately $49,000. Victory Capital Management Inc. bought a new stake in Annexon in the 2nd quarter worth approximately $51,000. Principal Financial Group Inc. purchased a new stake in Annexon during the 2nd quarter valued at $56,000. Quarry LP bought a new position in shares of Annexon during the 3rd quarter valued at $118,000. Finally, Intech Investment Management LLC purchased a new position in shares of Annexon in the 3rd quarter worth $154,000.

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.