Wellington Management Group LLP Increases Stake in Annexon, Inc. (NASDAQ:ANNX)

Wellington Management Group LLP grew its position in Annexon, Inc. (NASDAQ:ANNX) by 36.2% during the 3rd quarter, Holdings Channel reports. The fund owned 263,360 shares of the company’s stock after buying an additional 69,941 shares during the quarter. Wellington Management Group LLP’s holdings in Annexon were worth $1,559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Sandia Investment Management LP acquired a new stake in Annexon in the second quarter valued at about $49,000. Victory Capital Management Inc. purchased a new position in shares of Annexon during the 2nd quarter worth approximately $51,000. Principal Financial Group Inc. purchased a new stake in shares of Annexon in the second quarter valued at approximately $56,000. Quarry LP acquired a new position in Annexon during the third quarter worth $118,000. Finally, Allegheny Financial Group LTD raised its position in Annexon by 16.1% in the second quarter. Allegheny Financial Group LTD now owns 25,200 shares of the company’s stock worth $123,000 after acquiring an additional 3,500 shares in the last quarter.

Insider Buying and Selling at Annexon

In related news, EVP Ted Yednock sold 5,408 shares of Annexon stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $7.41, for a total transaction of $40,073.28. Following the completion of the transaction, the executive vice president now directly owns 71,365 shares in the company, valued at $528,814.65. The trade was a 7.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.67% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Annexon in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Annexon in a research report on Friday, November 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating 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, the stock currently has a consensus rating of “Buy” and an average price target of $15.80.

Annexon Trading Up 1.4 %

Shares of NASDAQ ANNX opened at $4.95 on Thursday. The company’s 50-day moving average price is $6.29 and its 200 day moving average price is $5.98. Annexon, Inc. has a 52 week low of $2.75 and a 52 week high of $8.40. The stock has a market cap of $527.64 million, a price-to-earnings ratio of -4.71 and a beta of 1.10.

About Annexon

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.