The Manufacturers Life Insurance Company Purchases 63,330 Shares of Annexon, Inc. (NASDAQ:ANNX)

The Manufacturers Life Insurance Company grew its stake in Annexon, Inc. (NASDAQ:ANNX) by 67.5% during the second quarter, Holdings Channel.com reports. The fund owned 157,136 shares of the company’s stock after purchasing an additional 63,330 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Annexon were worth $770,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Ameritas Investment Partners Inc. lifted its position in Annexon by 78.2% during the first quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock valued at $48,000 after acquiring an additional 2,949 shares during the last quarter. Sandia Investment Management LP purchased a new stake in Annexon during the second quarter valued at approximately $49,000. Victory Capital Management Inc. purchased a new position in shares of Annexon in the second quarter worth $51,000. Principal Financial Group Inc. purchased a new position in shares of Annexon in the second quarter worth $56,000. Finally, Comerica Bank purchased a new position in shares of Annexon in the first quarter worth $72,000.

Annexon Price Performance

Shares of ANNX opened at $7.41 on Tuesday. Annexon, Inc. has a 1-year low of $1.57 and a 1-year high of $8.40. The stock has a market cap of $684.78 million, a PE ratio of -5.04 and a beta of 1.28. The firm has a 50-day simple moving average of $6.17 and a two-hundred day simple moving average of $5.63.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.23) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.23). As a group, sell-side analysts expect that Annexon, Inc. will post -0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Ted Yednock sold 4,500 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $7.10, for a total value of $31,950.00. Following the completion of the sale, the executive vice president now owns 71,365 shares in the company, valued at $506,691.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 15,500 shares of company stock worth $95,695 in the last 90 days. Corporate insiders own 12.67% of the company’s stock.

Analyst Ratings Changes

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

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.