Annexon (NASDAQ:ANNX) Shares Gap Down to $5.74

Shares of Annexon, Inc. (NASDAQ:ANNX) gapped down before the market opened on Tuesday . The stock had previously closed at $5.74, but opened at $5.54. Annexon shares last traded at $5.66, with a volume of 556,824 shares.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ANNX shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Wednesday, April 3rd. Wells Fargo & Company raised their price objective on Annexon from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. raised their price objective on Annexon from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Monday, April 1st. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Annexon in a report on Wednesday, March 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $16.00 price objective on shares of Annexon in a report on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $14.43.

Annexon Trading Down 7.3 %

The firm has a market capitalization of $478.94 million, a price-to-earnings ratio of -3.17 and a beta of 1.14. The company’s 50 day moving average is $5.80 and its 200-day moving average is $4.02.

Insider Activity at Annexon

In other Annexon news, CEO Douglas Love sold 5,782 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $5.54, for a total transaction of $32,032.28. Following the completion of the sale, the chief executive officer now directly owns 196,121 shares in the company, valued at $1,086,510.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 8,940 shares of company stock worth $49,514. Insiders own 19.11% of the company’s stock.

Institutional Investors Weigh In On Annexon

Hedge funds have recently bought and sold shares of the stock. Kennedy Capital Management LLC acquired a new stake in Annexon during the third quarter worth approximately $2,306,000. Vontobel Holding Ltd. raised its position in shares of Annexon by 33.2% in the third quarter. Vontobel Holding Ltd. now owns 898,785 shares of the company’s stock valued at $2,121,000 after buying an additional 224,156 shares in the last quarter. Sectoral Asset Management Inc. raised its position in shares of Annexon by 33.2% in the third quarter. Sectoral Asset Management Inc. now owns 898,785 shares of the company’s stock valued at $2,121,000 after buying an additional 224,156 shares in the last quarter. Silverarc Capital Management LLC raised its position in shares of Annexon by 2.5% in the third quarter. Silverarc Capital Management LLC now owns 399,716 shares of the company’s stock valued at $943,000 after buying an additional 9,805 shares in the last quarter. Finally, Forefront Analytics LLC raised its position in shares of Annexon by 18.3% in the third quarter. Forefront Analytics LLC now owns 31,680 shares of the company’s stock valued at $75,000 after buying an additional 4,890 shares in the last quarter.

Annexon Company Profile

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune, neurodegenerative, and ophthalmic disorders. The company's C1q is an initiating molecule of the classical complement pathway that targets distinct disease processes, such as antibody-mediated autoimmune disease and complement-mediated neurodegeneration.