Annexon, Inc. $ANNX Shares Acquired by DNB Asset Management AS

DNB Asset Management AS increased its stake in shares of Annexon, Inc. (NASDAQ:ANNX) by 33.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 99,574 shares of the company’s stock after acquiring an additional 25,195 shares during the period. DNB Asset Management AS’s holdings in Annexon were worth $239,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nuveen LLC purchased a new stake in shares of Annexon during the first quarter valued at approximately $670,000. J. Safra Sarasin Holding AG grew its holdings in Annexon by 49.9% during the 2nd quarter. J. Safra Sarasin Holding AG now owns 381,441 shares of the company’s stock valued at $915,000 after purchasing an additional 126,903 shares in the last quarter. Wellington Management Group LLP increased its stake in Annexon by 32.9% during the 1st quarter. Wellington Management Group LLP now owns 356,480 shares of the company’s stock worth $688,000 after buying an additional 88,314 shares during the period. Matauro LLC acquired a new position in Annexon in the 2nd quarter worth $27,000. Finally, XTX Topco Ltd boosted its position in Annexon by 65.4% in the 1st quarter. XTX Topco Ltd now owns 58,130 shares of the company’s stock valued at $112,000 after buying an additional 22,979 shares during the last quarter.

Annexon Stock Down 2.7%

Shares of Annexon stock opened at $4.32 on Thursday. The business has a 50-day moving average price of $3.20 and a 200 day moving average price of $2.65. Annexon, Inc. has a fifty-two week low of $1.28 and a fifty-two week high of $5.66. The firm has a market cap of $516.81 million, a P/E ratio of -3.35 and a beta of 1.28.

Annexon (NASDAQ:ANNX) last issued its earnings results on Monday, November 10th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.03). As a group, equities research analysts anticipate that Annexon, Inc. will post -0.96 earnings per share for the current year.

Insider Buying and Selling

In other Annexon news, Director Muneer A. Satter bought 500,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was purchased at an average price of $3.94 per share, for a total transaction of $1,970,000.00. Following the completion of the purchase, the director directly owned 8,906,024 shares in the company, valued at approximately $35,089,734.56. This trade represents a 5.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired a total of 1,830,843 shares of company stock valued at $7,091,379 over the last three months. Insiders own 11.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Annexon in a research report on Friday, August 15th. Zacks Research upgraded Annexon from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their target price on Annexon from $14.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, November 19th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.33.

Annexon Company Profile

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines for treating inflammatory-related diseases. Its lead candidate is ANX005, an investigational full-length monoclonal antibody, which is in Phase 3 clinical trial for the treatment of patients with guillain-barré syndrome; completed Phase II clinical trial for treating Huntington's disease; and in Phase II clinical trial for the treatment of amyotrophic lateral sclerosis.