Moore Capital Management LP Makes New $2.43 Million Investment in Annexon, Inc. $ANNX

Moore Capital Management LP bought a new stake in shares of Annexon, Inc. (NASDAQ:ANNX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 425,332 shares of the company’s stock, valued at approximately $2,429,000. Moore Capital Management LP owned about 0.22% of Annexon at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ANNX. Redmile Group LLC grew its holdings in shares of Annexon by 44.8% in the first quarter. Redmile Group LLC now owns 14,549,768 shares of the company’s stock worth $80,606,000 after acquiring an additional 4,499,124 shares during the period. BlackRock Inc. purchased a new stake in Annexon during the second quarter valued at $77,312,000. BVF Inc. IL lifted its holdings in Annexon by 30.4% in the fourth quarter. BVF Inc. IL now owns 9,128,080 shares of the company’s stock valued at $45,823,000 after acquiring an additional 2,128,080 shares during the period. Vanguard Group Inc. lifted its holdings in Annexon by 8.7% in the third 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. Finally, Adage Capital Partners GP L.L.C. boosted its position in Annexon by 266.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,500,000 shares of the company’s stock worth $27,610,000 after purchasing an additional 4,000,000 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Needham & Company LLC boosted their price target on Annexon from $11.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Citizens Jmp raised shares of Annexon from an “underperform” rating to a “market perform” rating in a report on Thursday, August 13th. Wall Street Zen lowered shares of Annexon from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Citigroup started coverage on shares of Annexon in a report on Tuesday, July 21st. They set a “market underperform” rating for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Annexon in a research report on Tuesday, May 12th. They issued a “neutral” rating and a $7.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.33.

Annexon Stock Down 0.6%

NASDAQ ANNX opened at $4.94 on Tuesday. The stock’s 50-day moving average price is $5.41 and its 200-day moving average price is $5.43. Annexon, Inc. has a 52 week low of $2.03 and a 52 week high of $7.18. The company has a market capitalization of $936.53 million, a P/E ratio of -4.26 and a beta of 1.18.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.04). Research analysts anticipate that Annexon, Inc. will post -1.01 EPS for the current year.

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.