Annexon, Inc. (NASDAQ:ANNX) Holdings Lowered by Point72 Asset Management L.P.

Point72 Asset Management L.P. cut its stake in Annexon, Inc. (NASDAQ:ANNX - Free Report) by 11.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,326,998 shares of the company's stock after selling 662,019 shares during the period. Point72 Asset Management L.P. owned approximately 5.04% of Annexon worth $31,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parkman Healthcare Partners LLC grew its holdings in Annexon by 0.5% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 328,613 shares of the company's stock valued at $1,945,000 after buying an additional 1,768 shares in the last quarter. Sio Capital Management LLC acquired a new position in shares of Annexon during the 3rd quarter valued at about $8,484,000. Walleye Capital LLC purchased a new stake in shares of Annexon in the third quarter valued at about $1,946,000. MetLife Investment Management LLC increased its position in Annexon by 11.8% during the third quarter. MetLife Investment Management LLC now owns 55,212 shares of the company's stock worth $327,000 after purchasing an additional 5,814 shares during the last quarter. Finally, FMR LLC raised its stake in Annexon by 3.2% during the third quarter. FMR LLC now owns 8,561,949 shares of the company's stock worth $50,687,000 after purchasing an additional 262,229 shares during the period.

Analyst Ratings Changes

ANNX has been the subject of several analyst reports. Cantor Fitzgerald reissued an "overweight" rating on shares of Annexon in a research note on Friday, November 15th. Needham & Company LLC reissued a "buy" rating and set a $16.00 price objective on shares of Annexon in a research report on Friday, November 15th. Finally, HC Wainwright restated a "buy" rating and set a $30.00 price target on shares of Annexon in a research report on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $15.80.

Annexon Price Performance

Annexon stock traded up $0.03 during trading hours on Friday, hitting $5.10. The stock had a trading volume of 948,275 shares, compared to its average volume of 1,794,252. The stock has a market capitalization of $543.63 million, a price-to-earnings ratio of -4.86 and a beta of 1.10. The stock's fifty day moving average is $6.50 and its two-hundred day moving average is $5.97. Annexon, Inc. has a 1-year low of $2.27 and a 1-year high of $8.40.

Insider Buying and Selling at Annexon

In related news, EVP Ted Yednock sold 4,500 shares of the firm's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.10, for a total transaction of $31,950.00. Following the sale, the executive vice president now directly owns 71,365 shares in the company, valued at approximately $506,691.50. This trade represents a 5.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 12.67% of the stock is owned by company insiders.

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.