Siren L.L.C. Acquires Shares of 3,958,646 Annexon, Inc. $ANNX

Siren L.L.C. acquired a new stake in shares of Annexon, Inc. (NASDAQ:ANNX) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 3,958,646 shares of the company’s stock, valued at approximately $21,931,000.

Several other hedge funds have also recently modified their holdings of ANNX. Wealth Enhancement Advisory Services LLC boosted its position in shares of Annexon by 13.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,553 shares of the company’s stock worth $100,000 after acquiring an additional 2,348 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Annexon by 65.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock valued at $35,000 after purchasing an additional 2,785 shares during the last quarter. Susquehanna Portfolio Strategies LLC boosted its holdings in shares of Annexon by 0.8% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 356,619 shares of the company’s stock valued at $1,790,000 after purchasing an additional 2,875 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Annexon by 21.7% during the fourth quarter. ProShare Advisors LLC now owns 24,698 shares of the company’s stock valued at $124,000 after purchasing an additional 4,410 shares in the last quarter. Finally, Comerica Bank grew its position in shares of Annexon by 26.4% during the third quarter. Comerica Bank now owns 32,357 shares of the company’s stock valued at $99,000 after purchasing an additional 6,750 shares in the last quarter.

Analysts Set New Price Targets

ANNX has been the topic of several research reports. Wall Street Zen cut Annexon from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a research note on Friday, July 17th. The Goldman Sachs Group initiated coverage on Annexon in a report on Tuesday, May 12th. They set a “neutral” rating and a $7.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research note on Monday, July 13th. Finally, Citigroup initiated coverage on Annexon in a report on Tuesday. They set a “market underperform” rating on the stock. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Annexon has a consensus rating of “Hold” and an average price target of $15.33.

Insider Buying and Selling

In related news, Director William H. Carson bought 8,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $5.78 per share, for a total transaction of $46,240.00. Following the acquisition, the director owned 78,405 shares in the company, valued at $453,180.90. This trade represents a 11.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 dated Thursday, May 28th. The shares were bought at an average cost of $5.41 per share, for a total transaction of $3,319,018.77. Following the transaction, the director owned 10,342,134 shares in the company, valued at approximately $55,950,944.94. The trade was a 6.31% increase in their position. The SEC filing for this purchase provides additional information. 10.31% of the stock is currently owned by insiders.

Annexon Trading Up 1.3%

Shares of NASDAQ:ANNX 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 company has a 50-day moving average price of $5.36 and a 200 day moving average price of $5.59. The company has a market cap of $868.35 million, a price-to-earnings ratio of -4.34 and a beta of 1.16.

Annexon (NASDAQ:ANNX) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.07. As a group, equities analysts forecast 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.