Northern Trust Corp Buys 239,685 Shares of Annexon, Inc. (NASDAQ:ANNX)

Northern Trust Corp raised its position in Annexon, Inc. (NASDAQ:ANNX - Free Report) by 30.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,029,750 shares of the company's stock after acquiring an additional 239,685 shares during the quarter. Northern Trust Corp owned approximately 0.97% of Annexon worth $5,283,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. E Fund Management Co. Ltd. boosted its position in Annexon by 36.0% during the fourth quarter. E Fund Management Co. Ltd. now owns 15,447 shares of the company's stock worth $79,000 after purchasing an additional 4,086 shares during the period. Wellington Management Group LLP lifted its stake in shares of Annexon by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 268,166 shares of the company's stock worth $1,376,000 after buying an additional 4,806 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Annexon by 4.3% during the 4th quarter. Rhumbline Advisers now owns 141,852 shares of the company's stock worth $728,000 after buying an additional 5,854 shares during the period. Bank of New York Mellon Corp grew its stake in Annexon by 2.8% in the 4th quarter. Bank of New York Mellon Corp now owns 230,546 shares of the company's stock valued at $1,183,000 after buying an additional 6,226 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Annexon by 17.7% in the 4th quarter. MetLife Investment Management LLC now owns 64,967 shares of the company's stock valued at $333,000 after acquiring an additional 9,755 shares during the period.

Annexon Trading Up 2.4%

Shares of NASDAQ:ANNX traded up $0.05 on Monday, reaching $2.11. 951,998 shares of the company's stock were exchanged, compared to its average volume of 1,789,807. Annexon, Inc. has a twelve month low of $1.29 and a twelve month high of $7.85. The company has a fifty day moving average of $1.85 and a 200-day moving average of $3.41. The company has a market capitalization of $231.50 million, a price-to-earnings ratio of -2.01 and a beta of 1.24.

Annexon (NASDAQ:ANNX - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.07). As a group, equities research analysts forecast that Annexon, Inc. will post -0.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ANNX shares. Needham & Company LLC lowered their target price on Annexon from $16.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. HC Wainwright decreased their price objective on Annexon from $20.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th.

Annexon Profile

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines for treating inflammatory-related diseases. Its lead candidate is ANX005, an investigational full-length monoclonal antibody, which is in Phase 3 clinical trial for the treatment of patients with guillain-barré syndrome; completed Phase II clinical trial for treating Huntington's disease; and in Phase II clinical trial for the treatment of amyotrophic lateral sclerosis.