Rhenman & Partners Asset Management AB Boosts Holdings in Annexon, Inc. $ANNX

Rhenman & Partners Asset Management AB boosted its stake in Annexon, Inc. (NASDAQ:ANNX) by 78.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 823,000 shares of the company’s stock after acquiring an additional 363,000 shares during the period. Rhenman & Partners Asset Management AB owned 0.75% of Annexon worth $2,510,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Annexon by 8.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,835,112 shares of the company’s stock valued at $17,797,000 after acquiring an additional 469,073 shares during the period. Sio Capital Management LLC raised its holdings in shares of Annexon by 20.5% in the 2nd quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock worth $9,830,000 after purchasing an additional 697,978 shares during the period. TFG Asset Management GP Ltd lifted its stake in Annexon by 6.0% in the second quarter. TFG Asset Management GP Ltd now owns 2,810,000 shares of the company’s stock valued at $6,744,000 after purchasing an additional 160,000 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 last quarter. Finally, Bank of America Corp DE grew its holdings in Annexon by 39.9% during the second quarter. Bank of America Corp DE now owns 1,452,795 shares of the company’s stock valued at $3,487,000 after purchasing an additional 414,071 shares during the period.

Insiders Place Their Bets

In other news, CFO Jennifer Lew sold 7,851 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $5.11, for a total transaction of $40,118.61. Following the completion of the transaction, the chief financial officer directly owned 113,765 shares in the company, valued at $581,339.15. The trade was a 6.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Overdorf sold 6,225 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $5.10, for a total transaction of $31,747.50. Following the completion of the transaction, the executive vice president directly owned 124,464 shares in the company, valued at approximately $634,766.40. The trade was a 4.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 32,513 shares of company stock worth $165,973. Company insiders own 11.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wells Fargo & Company raised their target price on Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a report on Wednesday, January 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a report on Wednesday, January 14th. Finally, Chardan Capital assumed coverage on shares of Annexon in a research note on Tuesday, December 23rd. They issued a “buy” rating and a $16.00 target price for the company. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Annexon Trading Down 5.0%

ANNX stock opened at $5.16 on Friday. The firm has a 50 day moving average of $5.64 and a 200-day moving average of $4.16. Annexon, Inc. has a 12 month low of $1.28 and a 12 month high of $7.18. The firm has a market capitalization of $617.29 million, a P/E ratio of -3.66 and a beta of 1.15.

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.