Swiss National Bank Makes New Investment in Annexon, Inc. $ANNX

Swiss National Bank bought a new stake in shares of Annexon, Inc. (NASDAQ:ANNX) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 236,000 shares of the company’s stock, valued at approximately $1,307,000.

A number of other large investors also recently made changes to their positions in ANNX. AQR Capital Management LLC boosted its position in shares of Annexon by 122.6% in the 1st 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 last quarter. Jane Street Group LLC grew its stake in shares of Annexon by 8.2% during 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 increased its holdings in Annexon by 31.1% in the first quarter. Acadian Asset Management LLC now owns 203,990 shares of the company’s stock valued at $393,000 after purchasing an additional 48,345 shares during the last quarter. Geode Capital Management LLC increased its holdings in Annexon by 1.8% in the second quarter. Geode Capital Management LLC now owns 2,284,773 shares of the company’s stock valued at $5,484,000 after purchasing an additional 39,763 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Annexon by 6.6% in the second quarter. American Century Companies Inc. now owns 211,195 shares of the company’s stock valued at $507,000 after purchasing an additional 13,001 shares during the last quarter.

Analyst Upgrades and Downgrades

ANNX has been the topic of a number of recent analyst reports. Needham & Company LLC raised their target price on Annexon from $11.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a research note on Friday, July 17th. The Goldman Sachs Group initiated coverage on shares of Annexon in a research report on Tuesday, May 12th. They issued a “neutral” rating and a $7.00 price target on the stock. Citizens Jmp began coverage on shares of Annexon in a research note on Tuesday, July 21st. They set a “market underperform” rating and a $3.00 price objective on the stock. Finally, Wall Street Zen lowered shares of Annexon from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $15.33.

Insider Transactions at Annexon

In other Annexon news, Director William H. Carson acquired 8,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $5.78 per share, for a total transaction of $46,240.00. Following the acquisition, the director directly owned 78,405 shares of the company’s stock, valued at approximately $453,180.90. This trade represents a 11.36% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Muneer A. Satter acquired 613,497 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was acquired at an average price of $5.41 per share, with a total value of $3,319,018.77. Following the completion of the transaction, the director directly owned 10,342,134 shares in the company, valued at $55,950,944.94. This trade represents a 6.31% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 10.31% of the company’s stock.

Annexon Stock Down 3.4%

ANNX opened at $5.09 on Friday. The stock has a market cap of $833.95 million, a P/E ratio of -4.17 and a beta of 1.16. Annexon, Inc. has a 12 month low of $2.03 and a 12 month high of $7.18. The company has a fifty day simple moving average of $5.36 and a 200 day simple moving average of $5.58.

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

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.