JPMorgan Chase & Co. Purchases 235,810 Shares of Annexon, Inc. (NASDAQ:ANNX)

JPMorgan Chase & Co. boosted its stake in shares of Annexon, Inc. (NASDAQ:ANNX) by 16.0% during the third quarter, Holdings Channel.com reports. The fund owned 1,706,182 shares of the company’s stock after acquiring an additional 235,810 shares during the period. JPMorgan Chase & Co.’s holdings in Annexon were worth $10,101,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Annexon by 18.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,143,635 shares of the company’s stock worth $12,693,000 after buying an additional 331,269 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Annexon by 16.1% during the second quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock valued at $29,346,000 after purchasing an additional 832,617 shares in the last quarter. Point72 Europe London LLP acquired a new stake in shares of Annexon during the second quarter valued at about $1,150,000. Charles Schwab Investment Management Inc. increased its position in Annexon by 221.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 732,216 shares of the company’s stock valued at $4,335,000 after acquiring an additional 504,656 shares during the period. Finally, Barclays PLC increased its stake in shares of Annexon by 212.0% in the third quarter. Barclays PLC now owns 177,765 shares of the company’s stock valued at $1,052,000 after buying an additional 120,789 shares during the period.

Annexon Stock Performance

NASDAQ ANNX opened at $4.83 on Monday. The company has a 50-day simple moving average of $5.47 and a 200 day simple moving average of $5.95. Annexon, Inc. has a 52-week low of $3.86 and a 52-week high of $8.40. The company has a market capitalization of $514.85 million, a PE ratio of -4.60 and a beta of 1.11.

Insider Buying and Selling at Annexon

In related news, EVP Ted Yednock sold 5,408 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total transaction of $40,073.28. Following the sale, the executive vice president now directly owns 71,365 shares in the company, valued at approximately $528,814.65. This represents a 7.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 12.67% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price objective on shares of Annexon in a research report on Friday, November 15th. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Annexon in a report on Tuesday, December 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Friday, November 15th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target 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.