Charles Schwab Investment Management Inc. Boosts Stock Position in Annexon, Inc. (NASDAQ:ANNX)

Charles Schwab Investment Management Inc. raised its stake in Annexon, Inc. (NASDAQ:ANNX - Free Report) by 221.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 732,216 shares of the company's stock after buying an additional 504,656 shares during the period. Charles Schwab Investment Management Inc. owned about 0.69% of Annexon worth $4,335,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Sandia Investment Management LP acquired a new stake in Annexon in the second quarter worth $49,000. Victory Capital Management Inc. bought a new stake in Annexon in the 2nd quarter valued at about $51,000. Principal Financial Group Inc. bought a new stake in Annexon in the 2nd quarter valued at about $56,000. Comerica Bank acquired a new position in Annexon during the 1st quarter worth approximately $72,000. Finally, Allegheny Financial Group LTD boosted its holdings in Annexon by 16.1% in the second quarter. Allegheny Financial Group LTD now owns 25,200 shares of the company's stock worth $123,000 after acquiring an additional 3,500 shares in the last quarter.

Insiders Place Their Bets

In other news, EVP Ted Yednock sold 5,408 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total value of $40,073.28. Following the completion of the sale, the executive vice president now owns 71,365 shares in the company, valued at $528,814.65. This represents a 7.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.67% of the company's stock.

Annexon Trading Down 1.6 %

Annexon stock traded down $0.07 during trading on Friday, hitting $4.44. 1,324,347 shares of the company were exchanged, compared to its average volume of 1,777,804. The company has a market capitalization of $473.28 million, a P/E ratio of -4.23 and a beta of 1.10. The business's 50 day moving average is $6.35 and its 200 day moving average is $5.97. Annexon, Inc. has a 52 week low of $2.48 and a 52 week high of $8.40.

Wall Street Analyst Weigh In

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