Annexon, Inc. $ANNX Shares Sold by Opaleye Management Inc.

Opaleye Management Inc. lessened its stake in Annexon, Inc. (NASDAQ:ANNX) by 26.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,714,451 shares of the company’s stock after selling 617,310 shares during the quarter. Annexon makes up about 0.9% of Opaleye Management Inc.’s portfolio, making the stock its 28th biggest holding. Opaleye Management Inc.’s holdings in Annexon were worth $9,790,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in ANNX. Susquehanna Portfolio Strategies LLC lifted its holdings in Annexon by 0.8% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 356,619 shares of the company’s stock valued at $1,790,000 after purchasing an additional 2,875 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Annexon by 32.3% during the second quarter. Integrated Wealth Concepts LLC now owns 13,537 shares of the company’s stock worth $77,000 after purchasing an additional 3,305 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Annexon by 21.7% during the 4th quarter. ProShare Advisors LLC now owns 24,698 shares of the company’s stock worth $124,000 after purchasing an additional 4,410 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Annexon by 3.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 134,786 shares of the company’s stock worth $747,000 after purchasing an additional 4,684 shares during the last quarter. Finally, Comerica Bank lifted its stake in Annexon by 26.4% in the 3rd quarter. Comerica Bank now owns 32,357 shares of the company’s stock valued at $99,000 after buying an additional 6,750 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ANNX shares. Needham & Company LLC lifted their price objective on Annexon from $11.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. HC Wainwright restated a “buy” rating and issued a $14.00 target price on shares of Annexon in a research report on Monday, July 20th. Wall Street Zen lowered Annexon from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research report on Monday, July 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a report on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Annexon currently has a consensus rating of “Hold” and an average target price of $15.14.

Annexon Trading Down 5.3%

Shares of ANNX stock opened at $4.14 on Friday. The company’s 50-day moving average price is $5.29 and its 200-day moving average price is $5.41. The stock has a market cap of $784.86 million, a price-to-earnings ratio of -3.57 and a beta of 1.21. Annexon, Inc. has a twelve month low of $2.27 and a twelve month high of $7.18.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). As a group, equities research analysts predict that Annexon, Inc. will post -1.04 EPS for the current year.

About Annexon

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.