Ishara Investments LP Makes New $3.77 Million Investment in Annexon, Inc. $ANNX

Ishara Investments LP bought a new position in shares of Annexon, Inc. (NASDAQ:ANNX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 750,000 shares of the company’s stock, valued at approximately $3,765,000. Annexon accounts for about 4.4% of Ishara Investments LP’s investment portfolio, making the stock its 6th largest holding. Ishara Investments LP owned approximately 0.63% of Annexon at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CIBC Bancorp USA Inc. purchased a new position in Annexon during the third quarter worth about $31,000. Engineers Gate Manager LP purchased a new position in Annexon during the second quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Annexon by 65.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock worth $35,000 after purchasing an additional 2,785 shares during the period. Savant Capital LLC purchased a new position in Annexon during the third quarter worth about $40,000. Finally, Landscape Capital Management L.L.C. purchased a new position in Annexon during the fourth quarter worth about $50,000.

Insider Activity at Annexon

In other Annexon news, Director Muneer A. Satter bought 613,497 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were purchased at an average cost of $5.41 per share, with a total value of $3,319,018.77. Following the purchase, the director directly owned 10,342,134 shares in the company, valued at approximately $55,950,944.94. This represents a 6.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William H. Carson bought 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $5.78 per share, for a total transaction of $46,240.00. Following the completion of the purchase, the director owned 78,405 shares in the company, valued at $453,180.90. This trade represents a 11.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have purchased 629,497 shares of company stock worth $3,414,859. 10.31% of the stock is owned by insiders.

Analyst Ratings Changes

ANNX has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a report on Monday, April 20th. The Goldman Sachs Group initiated coverage on shares of Annexon in a report on Tuesday, May 12th. They issued a “neutral” rating and a $7.00 price objective on the stock. Wall Street Zen upgraded shares of Annexon from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Chardan Capital restated a “buy” rating and issued a $16.00 price objective on shares of Annexon in a report on Friday, March 20th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.00.

Annexon Stock Performance

Shares of ANNX stock opened at $4.94 on Thursday. The firm’s 50 day moving average price is $5.55 and its 200-day moving average price is $5.46. Annexon, Inc. has a one year low of $1.85 and a one year high of $7.18. The firm has a market cap of $809.37 million, a P/E ratio of -4.05 and a beta of 1.18.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.07. As a group, research analysts predict that Annexon, Inc. will post -0.92 EPS for the current fiscal year.

Annexon Company Profile

Annexon Inc is a clinical-stage biotechnology company focused on the discovery and development of complement-targeted therapies for patients with neurodegenerative and neuroimmune diseases. The company’s research platform centers on the inhibition of the C1 complex, a key initiator of the classical complement pathway implicated in several rare and life-threatening disorders. By selectively targeting upstream complement activation, Annexon aims to prevent the aberrant immune-mediated damage that characterizes conditions such as Guillain-Barré syndrome (GBS) and autoimmune neuropathies.

At the core of Annexon’s pipeline is ANX005, a humanized monoclonal antibody directed against the C1q subcomponent, currently in Phase 2 clinical trials for acute GBS and chronic neurodegenerative indications.