Sio Capital Management LLC Invests $8.48 Million in Annexon, Inc. (NASDAQ:ANNX)

Sio Capital Management LLC bought a new position in shares of Annexon, Inc. (NASDAQ:ANNX) in the third quarter, HoldingsChannel reports. The firm bought 1,433,155 shares of the company’s stock, valued at approximately $8,484,000. Annexon comprises about 3.4% of Sio Capital Management LLC’s investment portfolio, making the stock its 11th largest position.

Several other institutional investors also recently bought and sold shares of ANNX. Candriam S.C.A. bought a new position in shares of Annexon during the 2nd quarter valued at about $10,061,000. Vanguard Group Inc. lifted its position in shares of Annexon by 96.4% in the first quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock worth $26,871,000 after buying an additional 1,839,329 shares in the last quarter. Marshall Wace LLP boosted its stake in Annexon by 436.6% during the second quarter. Marshall Wace LLP now owns 1,693,665 shares of the company’s stock valued at $8,299,000 after buying an additional 1,378,053 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Annexon by 10,482.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,323,704 shares of the company’s stock valued at $9,492,000 after buying an additional 1,311,195 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Annexon by 16.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock worth $29,346,000 after acquiring an additional 832,617 shares during the last quarter.

Annexon Stock Performance

NASDAQ:ANNX opened at $5.34 on Friday. The firm has a market capitalization of $569.21 million, a PE ratio of -5.09 and a beta of 1.23. The stock’s fifty day moving average is $6.65 and its 200 day moving average is $5.95. Annexon, Inc. has a fifty-two week low of $2.27 and a fifty-two week high of $8.40.

Insider Buying and Selling at Annexon

In other news, EVP Ted Yednock sold 4,500 shares of the firm’s stock in a transaction dated 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 approximately $506,691.50. This trade represents a 5.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 15,408 shares of company stock worth $103,043 over the last quarter. Insiders own 12.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $16.00 target price on shares of Annexon in a research report on Friday, November 15th. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Annexon in a research report on Friday, November 15th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price 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.