J. Goldman & Co LP Makes New $663,000 Investment in Annexon, Inc. $ANNX

J. Goldman & Co LP bought a new stake in shares of Annexon, Inc. (NASDAQ:ANNX) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 116,046 shares of the company’s stock, valued at approximately $663,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ANNX. Bank of America Corp DE boosted its position in Annexon by 165.3% during the first quarter. Bank of America Corp DE now owns 4,259,995 shares of the company’s stock valued at $23,600,000 after purchasing an additional 2,654,414 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Annexon during the first quarter valued at about $7,312,000. Siren L.L.C. bought a new position in Annexon during the first quarter valued at about $21,931,000. Redmile Group LLC raised its holdings in Annexon by 44.8% during the first quarter. Redmile Group LLC now owns 14,549,768 shares of the company’s stock valued at $80,606,000 after buying an additional 4,499,124 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Annexon by 28.6% in the first quarter. Dimensional Fund Advisors LP now owns 924,078 shares of the company’s stock worth $5,115,000 after buying an additional 205,398 shares during the last quarter.

Annexon Price Performance

ANNX stock opened at $4.99 on Thursday. The stock has a market capitalization of $946.00 million, a price-to-earnings ratio of -4.30 and a beta of 1.18. The company has a 50-day moving average of $5.40 and a two-hundred day moving average of $5.44. 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 data on Wednesday, August 12th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). Equities analysts expect that Annexon, Inc. will post -1.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ANNX. The Goldman Sachs Group assumed coverage on Annexon in a research note on Tuesday, May 12th. They set a “neutral” rating and a $7.00 price target for the company. Needham & Company LLC boosted 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. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a research report on Friday, July 17th. Finally, Citigroup started coverage on Annexon in a report on Tuesday, July 21st. They set a “market underperform” rating on the stock. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.33.

About Annexon

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.