Douglas Love Sells 5,021 Shares of Annexon, Inc. (NASDAQ:ANNX) Stock

Douglas Love, the CEO of Annexon, Inc. (NASDAQ:ANNX), recently sold 5,021 shares of the company's stock on Thursday, February 13th. The shares were sold at an average price of $2.95 each, bringing the total value of the transaction to $14,811.95. After this sale, Douglas Love holds 351,554 shares of Annexon, which are valued at approximately $1,037,084.30. This transaction indicates a decrease of 1.41% in his holding of the company’s stock. The details of this transaction were filed with the Securities and Exchange Commission (SEC) and can be viewed on their website.

Recent Trading Activity

On Tuesday, Annexon stock experienced a decline of 12.1%, trading down by $0.37 to reach $2.70 during midday trading. The trading volume was significant, with 1,478,333 shares exchanged, compared to the average trading volume of 1,413,788 shares. The company's fifty-day simple moving average stands at $4.41, while the 200-day simple moving average is $5.63. Currently, Annexon has a market capitalization of $287.79 million, and its shares have a price-to-earnings ratio of -2.57, accompanied by a beta of 1.07. Over the past year, the company’s stock has seen a low of $2.70 and a high of $8.40.

Institutional Investor Movements

Various institutional investors have recently changed their holdings in Annexon. Notably, State Street Corp has increased its holdings by 116.6% in the third quarter, now owning 3,841,879 shares worth approximately $22,744,000, after acquiring an additional 2,068,294 shares. Additionally, Sio Capital Management LLC initiated a new position, investing $8,484,000 in Annexon during the same quarter. Sphera Funds Management LTD acquired $6,377,000 worth of shares in the fourth quarter, alongside Ameriprise Financial Inc., which raised its stakes by 483.6%, owning 926,642 shares after acquiring 767,869 additional shares worth $4,754,000. Finally, TFG Asset Management GP Ltd increased its holdings by 78.5%, now holding 1,400,000 shares valued at $7,182,000.

Research and Analyst Ratings

Annexon has been featured in several analyst reports recently. HC Wainwright maintained a “buy” rating, setting a price target of $30.00 for the shares. On the other hand, Cantor Fitzgerald reaffirmed an “overweight” rating. Furthermore, Needham & Company LLC reiterated a “buy” rating with a target price of $16.00. Overall, six equity research analysts have rated Annexon with a buy recommendation, establishing an average rating of