Geode Capital Management LLC Grows Stake in Annexon, Inc. (NASDAQ:ANNX)

Geode Capital Management LLC increased its holdings in shares of Annexon, Inc. (NASDAQ:ANNX) by 18.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,143,635 shares of the company’s stock after purchasing an additional 331,269 shares during the quarter. Geode Capital Management LLC owned approximately 2.03% of Annexon worth $12,693,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Sandia Investment Management LP purchased a new stake in shares of Annexon during the second quarter worth about $49,000. Victory Capital Management Inc. purchased a new stake in shares of Annexon during the second quarter worth about $51,000. Principal Financial Group Inc. purchased a new stake in shares of Annexon during the second quarter worth about $56,000. Quarry LP purchased a new stake in shares of Annexon during the third quarter worth about $118,000. Finally, Allegheny Financial Group LTD grew its position in shares of 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 purchasing an additional 3,500 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ANNX shares. Needham & Company LLC reissued a “buy” rating and set a $16.00 price target on shares of Annexon in a research note on Friday, November 15th. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Annexon in a research note on Tuesday, December 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Annexon has a consensus rating of “Buy” and an average target price of $15.80.

Insider Activity

In other news, EVP Ted Yednock sold 5,408 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 directly owns 71,365 shares of the company’s stock, valued at $528,814.65. This trade represents a 7.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.67% of the company’s stock.

Annexon Trading Down 1.2 %

Shares of Annexon stock opened at $5.13 on Tuesday. The firm has a market cap of $546.83 million, a PE ratio of -4.89 and a beta of 1.10. Annexon, Inc. has a 12 month low of $3.86 and a 12 month high of $8.40. The stock has a 50 day moving average of $5.90 and a 200 day moving average of $5.94.

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.