Readystate Asset Management LP Reduces Stake in Annexon, Inc. (NASDAQ:ANNX)

Readystate Asset Management LP lessened its holdings in shares of Annexon, Inc. (NASDAQ:ANNX - Free Report) by 12.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 774,860 shares of the company's stock after selling 108,588 shares during the period. Readystate Asset Management LP owned 0.73% of Annexon worth $4,587,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Comerica Bank acquired a new position in shares of Annexon during the first quarter worth $72,000. Sandia Investment Management LP bought a new position in Annexon during the second quarter worth $49,000. Victory Capital Management Inc. bought a new position in Annexon during the second quarter worth $51,000. Principal Financial Group Inc. bought a new position in Annexon during the second quarter worth $56,000. Finally, Allegheny Financial Group LTD raised its stake in Annexon by 16.1% during the second quarter. Allegheny Financial Group LTD now owns 25,200 shares of the company's stock worth $123,000 after buying an additional 3,500 shares during the last quarter.

Insider Transactions at Annexon

In related news, EVP Ted Yednock sold 5,408 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total transaction of $40,073.28. Following the transaction, the executive vice president now directly owns 71,365 shares in the company, valued at approximately $528,814.65. The trade was a 7.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.67% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ANNX. HC Wainwright reissued a "buy" rating and set a $30.00 target price on shares of Annexon in a research note on Friday, November 15th. Needham & Company LLC reissued a "buy" rating and set a $16.00 target price on shares of Annexon in a research note on Friday, November 15th. Finally, Cantor Fitzgerald reissued an "overweight" rating 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 MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $15.80.

Annexon Price Performance

Shares of NASDAQ:ANNX traded down $0.11 during midday trading on Thursday, hitting $5.05. 394,202 shares of the company's stock were exchanged, compared to its average volume of 1,795,560. The stock has a 50 day moving average price of $6.54 and a 200-day moving average price of $5.97. The company has a market cap of $538.30 million, a PE ratio of -4.91 and a beta of 1.10. Annexon, Inc. has a 12 month low of $2.27 and a 12 month high of $8.40.

Annexon 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.