616,489 Shares in Annexon, Inc. $ANNX Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 616,489 Annexon shares during the second quarter, valued at approximately $3.52 million and representing about 0.38% of the company. Several other institutional investors also initiated or increased positions.
• Annexon reported a quarterly loss of $0.28 per share, missing the $0.24 consensus estimate. Analysts expect a full-year loss of approximately $1.01 per share.
• ANNX opened at $4.99, while analysts maintain a consensus “Hold” rating and an average price target of $15.33; ratings range from “Buy” to “Sell.”

Deutsche Bank AG bought a new position in Annexon, Inc. (NASDAQ:ANNX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 616,489 shares of the company's stock, valued at approximately $3,520,000. Deutsche Bank AG owned about 0.38% of Annexon as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ANNX. CIBC Bancorp USA Inc. purchased a new position in Annexon during the 3rd quarter worth approximately $31,000. Engineers Gate Manager LP purchased a new position in shares of Annexon during the second quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. raised its position in Annexon by 65.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company's stock valued at $35,000 after buying an additional 2,785 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in Annexon in the 4th quarter worth about $50,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Annexon during the 4th quarter worth about $52,000.

Annexon Price Performance

Shares of ANNX stock opened at $4.99 on Thursday. The stock has a market cap of $946.00 million, a P/E ratio of -4.30 and a beta of 1.18. Annexon, Inc. has a one year low of $2.03 and a one year high of $7.18. The stock has a fifty day moving average price of $5.40 and a 200 day moving average price of $5.44.

Annexon (NASDAQ:ANNX - Get Free Report) last posted 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 research analysts anticipate that Annexon, Inc. will post -1.01 EPS for the current year.

Wall Street Analyst Weigh In

ANNX has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Annexon in a research note on Friday, July 17th. Needham & Company LLC lifted their target price on shares of Annexon from $11.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, July 15th. The Goldman Sachs Group started coverage on shares of Annexon in a research report on Tuesday, May 12th. They issued a "neutral" rating and a $7.00 target price for the company. HC Wainwright restated a "buy" rating and set a $14.00 price target on shares of Annexon in a research note on Monday, July 20th. Finally, Citigroup initiated coverage on shares of Annexon in a research note on Tuesday, July 21st. They issued a "market underperform" rating for the company. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $15.33.

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.

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