Rhenman & Partners Asset Management AB Raises Stock Holdings in Annexon, Inc. $ANNX

Rhenman & Partners Asset Management AB boosted its stake in Annexon, Inc. (NASDAQ:ANNX) by 78.9% during the third quarter, HoldingsChannel reports. The firm owned 823,000 shares of the company’s stock after buying an additional 363,000 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Annexon were worth $2,510,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 49 Wealth Management LLC purchased a new stake in shares of Annexon during the 2nd quarter valued at $29,000. Engineers Gate Manager LP bought a new stake in shares of Annexon during the 2nd quarter worth $32,000. SG Americas Securities LLC purchased a new position in Annexon in the third quarter worth $34,000. Savant Capital LLC purchased a new position in Annexon in the third quarter worth $40,000. Finally, Balefire LLC bought a new position in Annexon in the third quarter valued at $46,000.

Annexon Trading Down 5.0%

Shares of NASDAQ:ANNX opened at $5.16 on Friday. The stock has a market capitalization of $617.29 million, a P/E ratio of -3.66 and a beta of 1.15. The stock’s 50-day moving average price is $5.64 and its 200-day moving average price is $4.16. Annexon, Inc. has a 12-month low of $1.28 and a 12-month high of $7.18.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, January 21st. Chardan Capital initiated coverage on Annexon in a research report on Tuesday, December 23rd. They issued a “buy” rating and a $16.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company lifted their price target on shares of Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 19th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Annexon has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Insiders Place Their Bets

In other Annexon news, CFO Jennifer Lew sold 7,851 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $5.11, for a total value of $40,118.61. Following the completion of the sale, the chief financial officer owned 113,765 shares in the company, valued at approximately $581,339.15. The trade was a 6.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jamie Dananberg sold 5,290 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $5.10, for a total value of $26,979.00. Following the sale, the insider directly owned 73,152 shares of the company’s stock, valued at approximately $373,075.20. This trade represents a 6.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 32,513 shares of company stock worth $165,973. 11.87% of the stock is currently owned by corporate insiders.

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.