Siren L.L.C. Takes Position in Annexon, Inc. $ANNX

Siren L.L.C. purchased a new position in Annexon, Inc. (NASDAQ:ANNX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,958,646 shares of the company’s stock, valued at approximately $21,931,000. Siren L.L.C. owned about 2.42% of Annexon at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. CIBC Bancorp USA Inc. purchased a new position in Annexon in the third quarter worth about $31,000. Engineers Gate Manager LP purchased a new stake in shares of Annexon during the 2nd quarter valued at about $32,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Annexon by 65.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock worth $35,000 after purchasing an additional 2,785 shares during the period. Landscape Capital Management L.L.C. bought a new position in shares of Annexon in the 4th quarter worth approximately $50,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Annexon in the fourth quarter worth approximately $52,000.

Analyst Ratings Changes

Several brokerages recently issued reports on ANNX. Citizens Jmp assumed coverage on shares of Annexon in a research report on Tuesday. They set a “market underperform” rating and a $3.00 target price for the company. Citigroup assumed coverage on shares of Annexon in a research note on Tuesday. They set a “market underperform” rating on the stock. Needham & Company LLC upped their price objective on Annexon from $11.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a report on Monday, July 13th. Finally, Wall Street Zen downgraded Annexon from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.33.

Insider Buying and Selling at Annexon

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

Annexon Trading Up 1.3%

Annexon stock opened at $5.30 on Friday. Annexon, Inc. has a 12-month low of $2.03 and a 12-month high of $7.18. The firm has a market capitalization of $868.35 million, a price-to-earnings ratio of -4.34 and a beta of 1.16. The firm has a 50 day moving average of $5.36 and a 200 day moving average of $5.59.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.07. On average, analysts predict that Annexon, Inc. will post -0.92 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.