Annexon, Inc. $ANNX Shares Acquired by Redmile Group LLC

Redmile Group LLC increased its holdings in shares of Annexon, Inc. (NASDAQ:ANNX) by 44.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,549,768 shares of the company’s stock after buying an additional 4,499,124 shares during the period. Annexon comprises approximately 5.3% of Redmile Group LLC’s investment portfolio, making the stock its 6th largest holding. Redmile Group LLC owned approximately 8.88% of Annexon worth $80,606,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. purchased a new stake in Annexon in the 3rd quarter worth $31,000. Engineers Gate Manager LP acquired a new position in Annexon during the second quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Annexon by 65.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock valued at $35,000 after purchasing an additional 2,785 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Annexon in the fourth quarter valued at about $50,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Annexon in the fourth quarter valued at about $52,000.

Annexon Stock Down 3.1%

Shares of NASDAQ ANNX opened at $4.97 on Wednesday. The firm has a 50-day simple moving average of $5.37 and a 200-day simple moving average of $5.59. The stock has a market capitalization of $814.28 million, a price-to-earnings ratio of -4.07 and a beta of 1.16. Annexon, Inc. has a 52 week low of $2.03 and a 52 week high of $7.18.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ANNX shares. HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Annexon in a research report on Monday, July 20th. Needham & Company LLC lifted their price objective on Annexon from $11.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Citizens Jmp initiated coverage on Annexon in a research note on Tuesday, July 21st. They set a “market underperform” rating and a $3.00 price objective for the company. Citigroup assumed coverage on Annexon in a report on Tuesday, July 21st. They set a “market underperform” rating for the company. Finally, The Goldman Sachs Group began coverage on Annexon in a research report on Tuesday, May 12th. They issued a “neutral” rating and a $7.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Annexon presently has an average rating of “Hold” and a consensus target price of $15.33.

Insider Activity at Annexon

In related news, Director William H. Carson acquired 8,000 shares of Annexon stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $5.78 per share, for a total transaction of $46,240.00. Following the completion of the transaction, the director owned 78,405 shares in the company, valued at $453,180.90. This represents a 11.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Muneer A. Satter acquired 613,497 shares of the stock in a transaction on Thursday, May 28th. The shares were bought at an average cost of $5.41 per share, for a total transaction of $3,319,018.77. Following the purchase, the director directly owned 10,342,134 shares of the company’s stock, valued at $55,950,944.94. The trade was a 6.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 10.31% of the company’s stock.

Annexon Profile

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.