Massachusetts Financial Services Co. MA Boosts Holdings in Annexon, Inc. (NASDAQ:ANNX)

Massachusetts Financial Services Co. MA increased its holdings in Annexon, Inc. (NASDAQ:ANNX - Free Report) by 9.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,160,886 shares of the company's stock after purchasing an additional 96,085 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.10% of Annexon worth $6,872,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sandia Investment Management LP purchased a new position in shares of Annexon during the second quarter worth $49,000. Victory Capital Management Inc. purchased a new stake in shares of Annexon during the second quarter worth $51,000. Principal Financial Group Inc. acquired a new stake in Annexon in the 2nd quarter valued at about $56,000. Comerica Bank purchased a new position in Annexon during the first quarter worth approximately $72,000. Finally, ProShare Advisors LLC acquired a new position in shares of Annexon during the 1st quarter valued at about $87,000.

Annexon Stock Up 0.9 %

Annexon stock traded up $0.05 during midday trading on Wednesday, reaching $5.34. The company's stock had a trading volume of 1,023,077 shares, compared to its average volume of 1,812,506. The company has a market cap of $569.19 million, a P/E ratio of -5.04 and a beta of 1.23. The business has a 50-day simple moving average of $6.71 and a 200-day simple moving average of $5.95. Annexon, Inc. has a fifty-two week low of $2.27 and a fifty-two week high of $8.40.

Insider Buying and Selling

In other Annexon news, EVP Ted Yednock sold 5,408 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $7.41, for a total transaction of $40,073.28. Following the transaction, the executive vice president now owns 71,365 shares of the company's stock, valued at approximately $528,814.65. This trade represents a 7.04 % 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. Insiders sold a total of 20,908 shares of company stock worth $135,768 over the last 90 days. 12.67% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ANNX. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Annexon in a research note on Friday, November 15th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Annexon in a report on Friday, November 15th. Finally, Needham & Company LLC restated a "buy" rating and issued a $16.00 price target on shares of Annexon in a research note on Friday, November 15th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Annexon has a consensus rating of "Buy" and a consensus price target of $15.80.

Annexon Company 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.