1,319,913 Shares in Annexon, Inc. $ANNX Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in Annexon, Inc. (NASDAQ:ANNX) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,319,913 shares of the company’s stock, valued at approximately $7,312,000.

A number of other hedge funds have also added to or reduced their stakes in ANNX. Rhenman & Partners Asset Management AB raised its stake in shares of Annexon by 78.9% in the third quarter. Rhenman & Partners Asset Management AB now owns 823,000 shares of the company’s stock worth $2,510,000 after purchasing an additional 363,000 shares during the last quarter. BVF Inc. IL boosted its position in shares of Annexon by 30.4% during the fourth quarter. BVF Inc. IL now owns 9,128,080 shares of the company’s stock valued at $45,823,000 after buying an additional 2,128,080 shares during the last quarter. Ishara Investments LP purchased a new position in shares of Annexon during the fourth quarter valued at approximately $3,765,000. Strs Ohio bought a new stake in Annexon during the first quarter worth $307,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Annexon during the fourth quarter worth $96,000.

Annexon Stock Performance

Shares of ANNX opened at $5.46 on Friday. The company has a market capitalization of $894.57 million, a price-to-earnings ratio of -4.48 and a beta of 1.16. The stock has a 50 day moving average of $5.35 and a 200 day moving average of $5.51. Annexon, Inc. has a 12 month low of $1.85 and a 12 month high of $7.18.

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

Analyst Ratings Changes

ANNX has been the topic of several recent analyst reports. The Goldman Sachs Group started coverage on Annexon in a research note on Tuesday, May 12th. They set a “neutral” rating and a $7.00 price objective on the stock. Chardan Capital reiterated a “buy” rating and issued a $16.00 target price on shares of Annexon in a research note on Friday, March 20th. Wall Street Zen upgraded shares of Annexon from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a report on Monday, April 20th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $16.00.

Insider Buying and Selling at Annexon

In other Annexon news, Director Muneer A. Satter bought 613,497 shares of the stock in a transaction dated Thursday, May 28th. The shares were bought at an average cost of $5.41 per share, for a total transaction of $3,319,018.77. Following the purchase, the director directly owned 10,342,134 shares of the company’s stock, valued at approximately $55,950,944.94. This trade represents a 6.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Carson purchased 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $5.78 per share, for a total transaction of $46,240.00. Following the completion of the acquisition, the director directly owned 78,405 shares in the company, valued at $453,180.90. The trade was a 11.36% increase in their position. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have bought 629,497 shares of company stock valued at $3,414,859. Insiders own 10.31% of the company’s stock.

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.