BVF Inc. IL Boosts Holdings in Annexon, Inc. $ANNX

BVF Inc. IL grew its holdings in Annexon, Inc. (NASDAQ:ANNX) by 30.4% in the 4th quarter, HoldingsChannel reports. The firm owned 9,128,080 shares of the company’s stock after purchasing an additional 2,128,080 shares during the quarter. Annexon makes up 1.5% of BVF Inc. IL’s holdings, making the stock its 24th biggest holding. BVF Inc. IL owned approximately 0.08% of Annexon worth $45,823,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in ANNX. AQR Capital Management LLC boosted its stake in shares of Annexon by 122.6% in the first quarter. AQR Capital Management LLC now owns 73,790 shares of the company’s stock valued at $142,000 after purchasing an additional 40,637 shares during the period. Jane Street Group LLC boosted its stake in shares of Annexon by 8.2% in the first quarter. Jane Street Group LLC now owns 99,924 shares of the company’s stock valued at $193,000 after purchasing an additional 7,553 shares during the period. Acadian Asset Management LLC boosted its stake in shares of 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 period. Geode Capital Management LLC boosted its stake in shares of 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 period. Finally, American Century Companies Inc. raised 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 acquiring an additional 13,001 shares in the last quarter.

Annexon Trading Up 9.3%

ANNX stock opened at $4.94 on Thursday. Annexon, Inc. has a twelve month low of $1.85 and a twelve month high of $7.18. The company’s 50 day moving average is $5.55 and its two-hundred day moving average is $5.46. The stock has a market cap of $809.37 million, a P/E ratio of -4.05 and a beta of 1.18.

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

Analyst Ratings Changes

Several brokerages recently weighed in on ANNX. Wall Street Zen raised shares of Annexon from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a report on Monday, April 20th. Chardan Capital reaffirmed a “buy” rating and issued a $16.00 target price on shares of Annexon in a report on Friday, March 20th. Finally, The Goldman Sachs Group began coverage on shares of Annexon in a report on Tuesday, May 12th. They issued a “neutral” rating and a $7.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.00.

Insider Buying and Selling

In related news, Director Muneer A. Satter acquired 613,497 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were bought at an average price of $5.41 per share, with a total value of $3,319,018.77. Following the completion of the acquisition, the director owned 10,342,134 shares in the company, valued at $55,950,944.94. This trade represents a 6.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William H. Carson bought 8,000 shares of the 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 completion of the transaction, the director owned 78,405 shares of the company’s stock, valued at approximately $453,180.90. The trade was a 11.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have acquired 629,497 shares of company stock worth $3,414,859. 10.31% of the stock is owned by corporate insiders.

Annexon Company 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.