Ieq Capital LLC Takes $685,000 Position in Annexon, Inc. $ANNX

Ieq Capital LLC acquired a new position in Annexon, Inc. (NASDAQ:ANNX) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 120,010 shares of the company’s stock, valued at approximately $685,000.

A number of other large investors have also recently bought and sold shares of the business. E Fund Management Co. Ltd. bought a new position in Annexon during the second quarter valued at about $140,000. BlackRock Inc. bought a new stake in shares of Annexon during the 2nd quarter worth about $77,312,000. Deutsche Bank AG acquired a new position in shares of Annexon during the 2nd quarter valued at about $3,520,000. SCS Capital Management LLC bought a new position in shares of Annexon in the 2nd quarter valued at approximately $565,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Annexon in the 2nd quarter valued at approximately $2,863,000.

Annexon Trading Up 5.2%

ANNX opened at $5.25 on Friday. The business has a 50 day moving average of $5.41 and a 200-day moving average of $5.44. The stock has a market capitalization of $995.29 million, a price-to-earnings ratio of -4.53 and a beta of 1.18. Annexon, Inc. has a 1-year low of $2.03 and a 1-year high of $7.18.

Annexon (NASDAQ:ANNX) last released its earnings results on Wednesday, August 12th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.04). Equities analysts predict that Annexon, Inc. will post -1.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ANNX. Wall Street Zen cut Annexon from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research report on Monday, July 13th. HC Wainwright restated a “buy” rating and issued a $14.00 price objective on shares of Annexon in a research note on Monday, July 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a report on Friday, July 17th. Finally, Citigroup assumed coverage on shares of Annexon in a research note on Tuesday, July 21st. They issued a “market underperform” rating on the stock. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.33.

Annexon 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.