JPMorgan Chase & Co. Increases Stock Position in Annexon, Inc. (NASDAQ:ANNX)

JPMorgan Chase & Co. lifted its position in Annexon, Inc. (NASDAQ:ANNX - Free Report) by 16.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,706,182 shares of the company's stock after buying an additional 235,810 shares during the period. JPMorgan Chase & Co. owned approximately 1.60% of Annexon worth $10,101,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sandia Investment Management LP acquired a new stake in Annexon during the 2nd quarter valued at approximately $49,000. Victory Capital Management Inc. acquired a new stake in Annexon during the 2nd quarter valued at approximately $51,000. Principal Financial Group Inc. acquired a new stake in Annexon during the 2nd quarter valued at approximately $56,000. Quarry LP acquired a new stake in Annexon during the 3rd quarter valued at approximately $118,000. Finally, Intech Investment Management LLC acquired a new stake in Annexon during the 3rd quarter valued at approximately $154,000.

Annexon Stock Up 2.3 %

Shares of Annexon stock traded up $0.11 during trading hours on Monday, reaching $4.94. 1,259,219 shares of the company's stock were exchanged, compared to its average volume of 1,048,631. Annexon, Inc. has a 1 year low of $3.86 and a 1 year high of $8.40. The company has a market capitalization of $526.57 million, a P/E ratio of -4.70 and a beta of 1.11. The business has a fifty day moving average of $5.47 and a two-hundred day moving average of $5.95.

Insider Transactions at Annexon

In related news, EVP Ted Yednock sold 5,408 shares of the company's 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 of the company's stock, valued at approximately $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 can be accessed through this link. Insiders own 12.67% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on ANNX. Cantor Fitzgerald reiterated an "overweight" rating on shares of Annexon in a research note on Friday, November 15th. HC Wainwright reiterated a "buy" rating and issued a $30.00 target price on shares of Annexon in a research note on Tuesday, December 17th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $16.00 target price on shares of Annexon in a research note on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average 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.