Point72 Asset Management L.P. Purchases 299,798 Shares of Annexon, Inc. (NASDAQ:ANNX)

Point72 Asset Management L.P. increased its position in Annexon, Inc. (NASDAQ:ANNX) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,626,796 shares of the company’s stock after purchasing an additional 299,798 shares during the quarter. Point72 Asset Management L.P. owned approximately 5.28% of Annexon worth $28,865,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc lifted its position in Annexon by 516.7% in the fourth quarter. Legal & General Group Plc now owns 85,535 shares of the company’s stock worth $439,000 after purchasing an additional 71,665 shares during the period. Rhumbline Advisers lifted its position in Annexon by 4.3% in the fourth quarter. Rhumbline Advisers now owns 141,852 shares of the company’s stock worth $728,000 after purchasing an additional 5,854 shares during the period. New York State Common Retirement Fund lifted its position in Annexon by 143.4% in the fourth quarter. New York State Common Retirement Fund now owns 34,479 shares of the company’s stock worth $177,000 after purchasing an additional 20,311 shares during the period. Prudential Financial Inc. lifted its position in Annexon by 6.4% in the fourth quarter. Prudential Financial Inc. now owns 171,680 shares of the company’s stock worth $881,000 after purchasing an additional 10,400 shares during the period. Finally, Vanguard Group Inc. raised its stake in Annexon by 11.6% during the fourth quarter. Vanguard Group Inc. now owns 5,546,918 shares of the company’s stock worth $28,456,000 after acquiring an additional 576,625 shares in the last quarter.

Annexon Price Performance

Annexon stock opened at $2.01 on Friday. The stock has a fifty day moving average price of $1.91 and a two-hundred day moving average price of $3.68. Annexon, Inc. has a 52-week low of $1.29 and a 52-week high of $7.85. The firm has a market capitalization of $220.53 million, a P/E ratio of -1.91 and a beta of 1.24.

Annexon (NASDAQ:ANNX) last announced its earnings results on Monday, May 12th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.07). On average, equities research analysts predict that Annexon, Inc. will post -0.96 EPS for the current fiscal year.

Analyst Ratings Changes

ANNX has been the subject of several recent analyst reports. Needham & Company LLC dropped their price objective on Annexon from $16.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday. HC Wainwright dropped their price objective on Annexon from $20.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday.

About Annexon

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.