Fmr LLC Has $50.69 Million Holdings in Annexon, Inc. (NASDAQ:ANNX)

FMR LLC increased its holdings in Annexon, Inc. (NASDAQ:ANNX - Free Report) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,561,949 shares of the company's stock after acquiring an additional 262,229 shares during the period. FMR LLC owned about 8.10% of Annexon worth $50,687,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Sandia Investment Management LP acquired a new position in Annexon in the 2nd quarter worth about $49,000. Victory Capital Management Inc. acquired a new position in Annexon in the 2nd quarter worth about $51,000. Principal Financial Group Inc. acquired a new position in Annexon in the 2nd quarter worth about $56,000. Comerica Bank acquired a new position in Annexon in the 1st quarter worth about $72,000. Finally, Allegheny Financial Group LTD increased its position in Annexon by 16.1% in the 2nd quarter. Allegheny Financial Group LTD now owns 25,200 shares of the company's stock worth $123,000 after purchasing an additional 3,500 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 target price on shares of Annexon in a research report on Friday, November 15th. Needham & Company LLC reissued a "buy" rating and set a $16.00 price objective on shares of Annexon in a report on Friday, November 15th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Annexon in a report on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $15.80.

Annexon Stock Performance

Shares of NASDAQ ANNX traded up $0.03 during mid-day trading on Friday, reaching $5.10. 948,279 shares of the company traded hands, compared to its average volume of 1,300,143. The stock has a market cap of $543.61 million, a PE ratio of -4.86 and a beta of 1.10. The company's fifty day moving average is $6.50 and its two-hundred day moving average is $5.98. Annexon, Inc. has a fifty-two week low of $2.27 and a fifty-two week high of $8.40.

Insider Buying and Selling at Annexon

In other Annexon news, EVP Ted Yednock sold 5,408 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $7.41, for a total value of $40,073.28. Following the sale, the executive vice president now owns 71,365 shares of the company's stock, valued at $528,814.65. This trade represents a 7.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 12.67% of the company's stock.

About Annexon

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.