Muneer Satter Acquires 613,497 Shares of Annexon (NASDAQ:ANNX) Stock

Annexon, Inc. (NASDAQ:ANNX) Director Muneer Satter bought 613,497 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was purchased at an average cost of $5.41 per share, with a total value of $3,319,018.77. Following the completion of the acquisition, the director directly owned 10,342,134 shares of the company’s stock, valued at approximately $55,950,944.94. The trade was a 6.31% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Annexon Stock Performance

Shares of Annexon stock opened at $5.42 on Friday. The stock has a market capitalization of $888.01 million, a PE ratio of -4.44 and a beta of 1.22. Annexon, Inc. has a 52-week low of $1.85 and a 52-week high of $7.18. The company has a 50-day simple moving average of $5.63 and a two-hundred day simple moving average of $5.32.

Annexon (NASDAQ:ANNX) last issued its earnings results on Thursday, May 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.07. As a group, equities research analysts forecast that Annexon, Inc. will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ANNX has been the subject of a number of research analyst reports. Chardan Capital reiterated a “buy” rating and issued a $16.00 price target on shares of Annexon in a research note on Friday, March 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a research report on Monday, April 20th. The Goldman Sachs Group began coverage on shares of Annexon in a research report on Tuesday, May 12th. They set a “neutral” rating and a $7.00 target price for the company. Finally, Wall Street Zen upgraded shares of Annexon from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Annexon presently has a consensus rating of “Hold” and a consensus price target of $16.00.

Institutional Trading of Annexon

Several large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its position in shares of Annexon by 122.6% in the first quarter. AQR Capital Management LLC now owns 73,790 shares of the company’s stock worth $142,000 after purchasing an additional 40,637 shares during the period. Jane Street Group LLC boosted its position in shares of Annexon by 8.2% in the first quarter. Jane Street Group LLC now owns 99,924 shares of the company’s stock worth $193,000 after purchasing an additional 7,553 shares during the period. Acadian Asset Management LLC boosted its position in shares of Annexon by 31.1% in the first quarter. Acadian Asset Management LLC now owns 203,990 shares of the company’s stock worth $393,000 after purchasing an additional 48,345 shares during the period. Geode Capital Management LLC boosted its position in shares of Annexon by 1.8% in the second quarter. Geode Capital Management LLC now owns 2,284,773 shares of the company’s stock worth $5,484,000 after purchasing an additional 39,763 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Annexon by 6.6% in the second quarter. American Century Companies Inc. now owns 211,195 shares of the company’s stock worth $507,000 after purchasing an additional 13,001 shares during the period.

About Annexon

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.