Annexon, Inc. (NASDAQ:ANNX) director Carson William H. has recently purchased shares of the company, according to the latest SEC filings. On April 8, 2024, Carson acquired 3,200 shares of Annexon's common stock at an average price of $6.066, amounting to a total investment of $19,411.
The transactions were carried out through a series of trades with prices ranging from $5.82 to $6.20. The reported average purchase price represents a weighted mean of these trades. Carson's purchase was made according to a Rule 10b5-1 trading plan, which was adopted on January 4, 2024. These plans allow company insiders to set up a predetermined schedule for buying and selling stocks at a time when they are not in possession of material non-public information.
The filing indicated that the shares were bought directly and the new holdings following the transaction totaled 3,200 shares of common stock in the company. Annexon, Inc., headquartered in Brisbane, California, operates in the pharmaceutical preparations industry and is known for its focus on developing treatments for patients with classical complement-mediated disorders.
Investors often monitor insider transactions as they can provide insights into the confidence levels that company executives and directors have in the business's prospects. The recent purchase by Carson William H. could be seen as a positive sign to the market, reflecting potential optimism about the future of Annexon, Inc.
InvestingPro Insights
Following the recent insider purchase by director Carson William H., a deeper look into Annexon, Inc. (NASDAQ:ANNX) through InvestingPro reveals a mixed financial landscape. Despite a challenging profitability outlook, certain metrics suggest underlying strengths in the company's financial position.
An InvestingPro Tip points out that Annexon holds more cash than debt on its balance sheet, which may provide some financial flexibility in its operations. Additionally, the company's liquid assets exceed its short-term obligations, indicating a solid short-term financial health. In contrast, Annexon is quickly burning through its cash reserves and suffers from weak gross profit margins, which could raise concerns about its long-term financial sustainability.
InvestingPro Data shows a notable market capitalization of $555.46M USD, but the company's P/E Ratio stands at -3.46, reflecting its current lack of profitability. Furthermore, Annexon's Price / Book ratio as of the last twelve months ending Q4 2023 is 2.22, which could be of interest to investors looking at the company's valuation relative to its net asset value.
The company has seen a significant price uptick over the last six months, with a 210.26% total return, which may capture the attention of growth-oriented investors. However, it's important to note that analysts do not anticipate the company will be profitable this year, and Annexon does not pay a dividend to shareholders, which might be a drawback for income-focused investors.
For those seeking additional insights, there are 9 more InvestingPro Tips available for Annexon, Inc. at https://www.investing.com/pro/ANNX. To access these tips and detailed financial metrics, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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