Sectoral Asset Management Inc. Sells 247,874 Shares of Annexon, Inc. (NASDAQ:ANNX)

Sectoral Asset Management Inc. reduced its holdings in Annexon, Inc. (NASDAQ:ANNXFree Report) by 27.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 650,911 shares of the company’s stock after selling 247,874 shares during the period. Annexon makes up about 1.3% of Sectoral Asset Management Inc.’s investment portfolio, making the stock its 25th largest position. Sectoral Asset Management Inc. owned about 1.22% of Annexon worth $2,955,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ANNX. Bain Capital Life Sciences Investors LLC increased its position in shares of Annexon by 41.4% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company’s stock valued at $36,600,000 after purchasing an additional 2,359,793 shares during the period. Kennedy Capital Management LLC bought a new stake in shares of Annexon during the third quarter valued at approximately $2,306,000. Silverarc Capital Management LLC increased its position in shares of Annexon by 2.5% during the third quarter. Silverarc Capital Management LLC now owns 399,716 shares of the company’s stock valued at $943,000 after purchasing an additional 9,805 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Annexon by 53.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company’s stock valued at $54,000 after purchasing an additional 4,141 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Annexon by 14.1% during the fourth quarter. SG Americas Securities LLC now owns 25,335 shares of the company’s stock valued at $115,000 after purchasing an additional 3,123 shares during the period.

Annexon Trading Down 2.5 %

Shares of ANNX traded down $0.15 during trading hours on Friday, hitting $5.74. 4,623,736 shares of the stock traded hands, compared to its average volume of 4,771,728. Annexon, Inc. has a 1-year low of $1.57 and a 1-year high of $8.40. The firm has a market capitalization of $530.45 million, a PE ratio of -3.90 and a beta of 1.30. The business has a fifty day moving average of $5.15 and a 200-day moving average of $4.74.

Annexon (NASDAQ:ANNXGet Free Report) last released its earnings results on Monday, May 13th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.11. As a group, equities research analysts expect that Annexon, Inc. will post -0.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ANNX has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price target on shares of Annexon in a research report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research report on Wednesday. Bank of America upped their price target on Annexon from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Annexon in a research note on Tuesday. Finally, Wells Fargo & Company reduced their price objective on Annexon from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 15th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $15.33.

Check Out Our Latest Analysis on ANNX

About Annexon

(Free Report)

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.

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Institutional Ownership by Quarter for Annexon (NASDAQ:ANNX)

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