Engineers Gate Manager LP Has $1.82 Million Stock Position in Annexon, Inc. $ANNX

Engineers Gate Manager LP boosted its position in shares of Annexon, Inc. (NASDAQ:ANNX) by 83.2% in the second quarter, Holdings Channel reports. The fund owned 319,057 shares of the company’s stock after acquiring an additional 144,916 shares during the period. Engineers Gate Manager LP’s holdings in Annexon were worth $1,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Redmile Group LLC lifted its position in shares of Annexon by 44.8% during the 1st quarter. Redmile Group LLC now owns 14,549,768 shares of the company’s stock worth $80,606,000 after purchasing an additional 4,499,124 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Annexon in the second quarter worth $77,312,000. BVF Inc. IL increased its position in Annexon by 30.4% during the fourth quarter. BVF Inc. IL now owns 9,128,080 shares of the company’s stock worth $45,823,000 after acquiring an additional 2,128,080 shares during the period. Bank of America Corp DE raised its stake in Annexon by 165.3% during the 1st 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. Finally, Siren L.L.C. acquired a new position in Annexon during the 1st quarter valued at $21,931,000.

Annexon Stock Performance

Shares of Annexon stock opened at $3.92 on Wednesday. The firm has a market cap of $743.15 million, a P/E ratio of -3.38 and a beta of 1.21. The firm’s 50-day simple moving average is $5.17 and its 200-day simple moving average is $5.39. Annexon, Inc. has a twelve month low of $2.49 and a twelve month high of $7.18.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.04). On average, equities analysts forecast that Annexon, Inc. will post -1.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ANNX. Citizens Jmp raised shares of Annexon from an “underperform” rating to a “market perform” rating in a report on Thursday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a report on Friday, July 17th. JPMorgan Chase & Co. upped their price objective on shares of Annexon from $10.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. Citigroup initiated coverage on shares of Annexon in a research note on Tuesday, July 21st. They issued a “market underperform” rating for the company. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research note on Monday, July 13th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.14.

Annexon Profile

Annexon, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for diseases driven by the classical complement pathway, an immune system mechanism that can contribute to inflammation and the destruction of healthy cells. The company’s approach is designed to selectively inhibit complement activity while preserving other potentially beneficial immune functions.

Annexon’s lead programs include ANX005, an investigational monoclonal antibody that targets C1q and is being evaluated in immune-mediated and neuroinflammatory conditions, including Guillain-Barré syndrome.