The stock price of Annexon Inc. (NASDAQ: ANNX) has jumped by 18.78 compared to previous close of 2.13. Despite this, the company has seen a gain of 6.75% in its stock price over the last five trading days. Zacks Investment Research reported 2023-09-08 that Annexon, Inc. (ANNX) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
Is It Worth Investing in Annexon Inc. (NASDAQ: ANNX) Right Now?
Moreover, the 36-month beta value for ANNX is 0.66. Analysts have varying opinions on the stock, with 6 analysts rating it as a “buy,” 0 as “overweight,” 2 as “hold,” and 0 as “sell.”
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The average price recommended by analysts for Annexon Inc. (ANNX) is $14.17, which is $13.07 above the current market price. The public float for ANNX is 45.01M and currently, short sellers hold a 4.92% of that float. On September 18, 2023, ANNX’s average trading volume was 474.70K shares.
ANNX’s Market Performance
The stock of Annexon Inc. (ANNX) has seen a 6.75% increase in the past week, with a -8.66% drop in the past month, and a -9.96% fall in the past quarter. The volatility ratio for the week is 8.64%, and the volatility levels for the past 30 days are at 7.10% for ANNX. The simple moving average for the past 20 days is -5.68% for ANNX’s stock, with a -44.12% simple moving average for the past 200 days.
Analysts’ Opinion of ANNX
Many brokerage firms have already submitted their reports for ANNX stocks, with BofA Securities repeating the rating for ANNX by listing it as a “Neutral.” The predicted price for ANNX in the upcoming period, according to BofA Securities is $3 based on the research report published on May 26, 2023 of the current year 2023.
ANNX Trading at -19.08% from the 50-Day Moving Average
After a stumble in the market that brought ANNX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -66.93% of loss for the given period.
Volatility was left at 7.10%, however, over the last 30 days, the volatility rate increased by 8.64%, as shares sank -14.81% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -26.24% lower at present.
During the last 5 trading sessions, ANNX rose by +6.75%, which changed the moving average for the period of 200-days by -56.08% in comparison to the 20-day moving average, which settled at $2.66. In addition, Annexon Inc. saw -51.06% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ANNX starting from Bain Capital Life Sciences Inv, who purchase 300,000 shares at the price of $2.13 back on May 25. After this action, Bain Capital Life Sciences Inv now owns 5,701,926 shares of Annexon Inc., valued at $639,720 using the latest closing price.
Love Douglas, the President & CEO of Annexon Inc., sale 6,571 shares at $5.87 during a trade that took place back on Feb 15, which means that Love Douglas is holding 197,646 shares at $38,564 based on the most recent closing price.
Stock Fundamentals for ANNX
The total capital return value is set at -54.89, while invested capital returns managed to touch -53.76. Equity return is now at value -64.30, with -52.10 for asset returns.
Based on Annexon Inc. (ANNX), the company’s capital structure generated 14.21 points at debt to equity in total, while total debt to capital is 12.44. Total debt to assets is 11.53, with long-term debt to equity ratio resting at 13.64. Finally, the long-term debt to capital ratio is 11.95.
The liquidity ratio also appears to be rather interesting for investors as it stands at 11.10.
Conclusion
To wrap up, the performance of Annexon Inc. (ANNX) has been bad in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
