Swiss National Bank Purchases New Position in Annexon, Inc. $ANNX

Key Points

• Swiss National Bank bought a new 236,000-share position in Annexon valued at approximately $1.3 million, while several other institutional investors also increased their holdings.
• Annexon shares opened at $5.09, with a market capitalization of about $834 million and a 52-week range of $2.03 to $7.18. The company reported a quarterly loss of $0.23 per share, beating the consensus estimate of a $0.30 loss.
• Analyst sentiment remains mixed, with five Buy, two Hold, and three Sell ratings; the average rating is Hold and the average price target is $15.33. Directors also made sizable purchases, including a 613,497-share acquisition by Muneer A. Satter.

Swiss National Bank purchased a new stake in Annexon, Inc. (NASDAQ:ANNX - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 236,000 shares of the company's stock, valued at approximately $1,307,000. Swiss National Bank owned 0.15% of Annexon at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in shares of Annexon by 122.6% during the first quarter. AQR Capital Management LLC now owns 73,790 shares of the company's stock valued at $142,000 after acquiring an additional 40,637 shares during the period. Jane Street Group LLC raised its stake in shares of Annexon by 8.2% in the first quarter. Jane Street Group LLC now owns 99,924 shares of the company's stock valued at $193,000 after acquiring an additional 7,553 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Annexon by 31.1% in the first quarter. Acadian Asset Management LLC now owns 203,990 shares of the company's stock valued at $393,000 after acquiring an additional 48,345 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Annexon by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,284,773 shares of the company's stock worth $5,484,000 after acquiring an additional 39,763 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Annexon by 6.6% in the 2nd quarter. American Century Companies Inc. now owns 211,195 shares of the company's stock worth $507,000 after acquiring an additional 13,001 shares in the last quarter.

Annexon Stock Performance

NASDAQ ANNX opened at $5.09 on Friday. The stock has a fifty day moving average of $5.36 and a 200-day moving average of $5.58. The stock has a market capitalization of $833.95 million, a P/E ratio of -4.17 and a beta of 1.16. Annexon, Inc. has a 52 week low of $2.03 and a 52 week high of $7.18.

Annexon (NASDAQ:ANNX - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.07. Equities research analysts forecast that Annexon, Inc. will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on ANNX. Weiss Ratings restated a "sell (d-)" rating on shares of Annexon in a research report on Friday, July 17th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Annexon in a research report on Monday, July 13th. Needham & Company LLC increased their target price on Annexon from $11.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Citigroup began coverage on Annexon in a research note on Tuesday, July 21st. They issued a "market underperform" rating for the company. Finally, The Goldman Sachs Group started coverage on shares of Annexon in a research report on Tuesday, May 12th. They set a "neutral" rating and a $7.00 target price on the stock. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $15.33.

Insider Transactions at Annexon

In other news, Director William H. Carson acquired 8,000 shares of the company's stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $5.78 per share, with a total value of $46,240.00. Following the acquisition, the director owned 78,405 shares of the company's stock, valued at $453,180.90. This trade represents a 11.36% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Muneer A. Satter bought 613,497 shares of the business's stock in a transaction on Thursday, May 28th. The shares were acquired at an average price of $5.41 per share, for a total transaction of $3,319,018.77. Following the completion of the transaction, the director owned 10,342,134 shares in the company, valued at approximately $55,950,944.94. This trade represents a 6.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 10.31% of the stock is owned by company insiders.

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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