Hsbc Holdings PLC Trims Stake in Annexon, Inc. (NASDAQ:ANNX)

Hsbc Holdings PLC cut its stake in Annexon, Inc. (NASDAQ:ANNX) by 17.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,369 shares of the company’s stock after selling 7,649 shares during the period. Hsbc Holdings PLC’s holdings in Annexon were worth $175,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Bain Capital Life Sciences Investors LLC lifted its stake in shares of Annexon by 8.0% in the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 8,703,268 shares of the company’s stock valued at $62,402,000 after purchasing an additional 641,549 shares during the period. BVF Inc. IL purchased a new position in Annexon during the fourth quarter valued at $31,780,000. Vanguard Group Inc. boosted its holdings in shares of Annexon by 96.4% during the 1st quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock valued at $26,871,000 after buying an additional 1,839,329 shares in the last quarter. Bellevue Group AG purchased a new stake in shares of Annexon in the 1st quarter worth about $15,647,000. Finally, Candriam S.C.A. bought a new position in shares of Annexon in the 2nd quarter worth about $10,061,000.

Wall Street Analyst Weigh In

Several research firms recently commented on ANNX. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Annexon in a research note on Tuesday, August 13th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price target on shares of Annexon in a research report on Tuesday, August 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research note on Monday, September 9th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $15.80.

Annexon Trading Up 1.3 %

NASDAQ:ANNX opened at $6.29 on Friday. The stock has a 50-day moving average price of $6.10 and a 200 day moving average price of $5.63. The stock has a market capitalization of $581.28 million, a P/E ratio of -4.28 and a beta of 1.28. Annexon, Inc. has a 12-month low of $1.57 and a 12-month high of $8.40.

Annexon (NASDAQ:ANNX) last issued its earnings results on Monday, August 12th. The company reported ($0.23) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.23). On average, research analysts predict that Annexon, Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Annexon

In related news, EVP Ted Yednock sold 5,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $5.64, for a total value of $31,020.00. Following the sale, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $56,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 17,388 shares of company stock valued at $107,072 in the last 90 days. 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.