Readystate Asset Management LP Has $4.59 Million Holdings in Annexon, Inc. (NASDAQ:ANNX)

Readystate Asset Management LP cut its holdings in Annexon, Inc. (NASDAQ:ANNX) by 12.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 774,860 shares of the company’s stock after selling 108,588 shares during the period. Readystate Asset Management LP owned about 0.73% of Annexon worth $4,587,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sandia Investment Management LP acquired a new position in Annexon during the second quarter worth $49,000. Victory Capital Management Inc. acquired a new position in shares of Annexon in the second quarter valued at $51,000. Principal Financial Group Inc. acquired a new position in shares of Annexon in the second quarter valued at $56,000. Comerica Bank acquired a new position in shares of Annexon in the first quarter valued at $72,000. Finally, Allegheny Financial Group LTD increased its holdings in shares of Annexon by 16.1% in the second quarter. Allegheny Financial Group LTD now owns 25,200 shares of the company’s stock valued at $123,000 after purchasing an additional 3,500 shares during the last quarter.

Insider Buying and Selling

In related news, EVP Ted Yednock sold 5,408 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total transaction of $40,073.28. Following the completion of the sale, the executive vice president now owns 71,365 shares of the company’s stock, valued at $528,814.65. This represents a 7.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 12.67% of the stock is currently owned by company insiders.

Annexon Stock Performance

Shares of Annexon stock opened at $5.16 on Thursday. The firm has a 50-day moving average of $6.54 and a 200-day moving average of $5.97. The stock has a market cap of $550.00 million, a PE ratio of -4.91 and a beta of 1.10. Annexon, Inc. has a 52-week low of $2.27 and a 52-week high of $8.40.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ANNX shares. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price objective on shares of Annexon in a report on Friday, November 15th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research report on Friday, November 15th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Annexon in a research report on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus 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.