Annexon, Inc. $ANNX Stock Holdings Lifted by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its Annexon stake by 40.5% in the third quarter, adding 483,844 shares to hold 1,678,986 shares, valued at about $7.1 million.
• Analyst views are mixed: six analysts rate ANNX a Buy, two a Hold, and two a Sell; the average rating is Hold, with an average price target of $15.29.
• Annexon reported a quarterly loss of $0.25 per share, beating the $0.28 loss analysts expected. CEO Douglas Love also bought 26,065 shares at an average price of $3.83.

Candriam S.C.A. grew its stake in Annexon, Inc. (NASDAQ:ANNX - Free Report) by 40.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,678,986 shares of the company's stock after acquiring an additional 483,844 shares during the period. Candriam S.C.A. owned 0.89% of Annexon worth $7,128,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Annexon in the third quarter valued at approximately $41,000. Sowell Financial Services LLC acquired a new stake in shares of Annexon during the 3rd quarter worth approximately $57,000. Integrated Wealth Concepts LLC grew its position in shares of Annexon by 32.3% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 13,537 shares of the company's stock worth $77,000 after buying an additional 3,305 shares during the period. Forefront Analytics LLC bought a new stake in shares of Annexon during the second quarter worth approximately $81,000. Finally, Pictet Asset Management Holding SA bought a new stake in shares of Annexon during the first quarter worth approximately $93,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ANNX shares. Citigroup started coverage on Annexon in a research note on Tuesday, July 21st. They issued a "market underperform" rating on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Annexon in a report on Thursday, October 15th. Needham & Company LLC increased their target price on shares of Annexon from $11.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Cantor Fitzgerald reissued an "overweight" rating on shares of Annexon in a research report on Monday, July 13th. Finally, HC Wainwright reissued a "buy" rating and issued a $14.00 price target on shares of Annexon in a report on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Annexon presently has an average rating of "Hold" and an average target price of $15.29.

Annexon Stock Performance

Shares of Annexon stock opened at $4.23 on Tuesday. The business has a 50-day moving average of $4.09 and a two-hundred day moving average of $5.16. Annexon, Inc. has a 1 year low of $2.54 and a 1 year high of $7.18.

Annexon (NASDAQ:ANNX - Get Free Report) last released its quarterly earnings data on Monday, November 9th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.03. On average, sell-side analysts predict that Annexon, Inc. will post -1.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Douglas Love purchased 26,065 shares of the business's stock in a transaction on Thursday, September 24th. The shares were purchased at an average price of $3.83 per share, with a total value of $99,828.95. Following the completion of the purchase, the chief executive officer owned 390,476 shares in the company, valued at $1,495,523.08. This represents a 7.15% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 10.31% of the company's stock.

About Annexon

Annexon, Inc NASDAQ: ANNX is a clinical-stage biotechnology company developing therapies for diseases associated with abnormal activation of the classical complement pathway. The company's approach is designed to selectively inhibit complement activity while preserving the immune system's ability to perform essential functions.

Annexon's pipeline has included ANX005, a monoclonal antibody targeting C1q, the initiating protein of the classical complement pathway. The company has evaluated ANX005 in immune-mediated and neuroinflammatory disorders, including Guillain-Barré syndrome.

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