Vontobel Holding Ltd. Reduces Stock Position in Annexon, Inc. (NASDAQ:ANNX)

Vontobel Holding Ltd. decreased its stake in shares of Annexon, Inc. (NASDAQ:ANNX) by 27.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 650,911 shares of the company’s stock after selling 247,874 shares during the quarter. Vontobel Holding Ltd.’s holdings in Annexon were worth $2,955,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of Annexon by 199.7% in the 2nd quarter. BlackRock Inc. now owns 3,479,896 shares of the company’s stock valued at $12,249,000 after buying an additional 2,318,780 shares during the period. Federated Hermes Inc. grew its position in Annexon by 50.7% in the first quarter. Federated Hermes Inc. now owns 3,052,651 shares of the company’s stock worth $8,334,000 after acquiring an additional 1,027,051 shares during the period. Kennedy Capital Management LLC acquired a new stake in Annexon during the third quarter worth $2,306,000. Point72 Asset Management L.P. acquired a new stake in Annexon during the fourth quarter worth $3,878,000. Finally, State Street Corp raised its position in Annexon by 409.8% in the second quarter. State Street Corp now owns 794,244 shares of the company’s stock valued at $2,796,000 after purchasing an additional 638,445 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Wednesday, April 3rd. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Annexon in a research note on Wednesday, March 27th. Wells Fargo & Company boosted their price target on shares of Annexon from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Annexon in a report on Thursday, April 11th. Finally, Bank of America upped their price target on Annexon from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $14.43.

Insiders Place Their Bets

In other news, CEO Douglas Love sold 5,782 shares of Annexon stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $5.54, for a total value of $32,032.28. Following the completion of the transaction, the chief executive officer now owns 196,121 shares in the company, valued at approximately $1,086,510.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 8,940 shares of company stock worth $49,514 in the last quarter. 19.11% of the stock is owned by company insiders.

Annexon Stock Performance

NASDAQ ANNX opened at $4.44 on Friday. The firm has a market cap of $399.73 million, a price-to-earnings ratio of -2.49 and a beta of 1.14. The firm has a 50 day simple moving average of $5.77 and a 200-day simple moving average of $4.04. Annexon, Inc. has a one year low of $1.57 and a one year high of $8.40.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings results on Tuesday, March 26th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.09. Equities analysts predict that Annexon, Inc. will post -1.36 EPS for the current fiscal year.

Annexon Profile

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.