Cornercap Investment Counsel Inc. Sells 23,453 Shares of Annexon, Inc. (NASDAQ:ANNX)

Cornercap Investment Counsel Inc. cut its stake in Annexon, Inc. (NASDAQ:ANNX) by 50.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 22,604 shares of the company’s stock after selling 23,453 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Annexon were worth $134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Ameritas Investment Partners Inc. raised its holdings in Annexon by 78.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock valued at $48,000 after acquiring an additional 2,949 shares during the period. GSA Capital Partners LLP increased its stake in shares of Annexon by 10.7% during the third quarter. GSA Capital Partners LLP now owns 34,581 shares of the company’s stock worth $205,000 after purchasing an additional 3,355 shares during the period. Allegheny Financial Group LTD lifted its holdings in Annexon by 16.1% during the 2nd quarter. Allegheny Financial Group LTD now owns 25,200 shares of the company’s stock worth $123,000 after purchasing an additional 3,500 shares during the last quarter. Creative Planning boosted its stake in Annexon by 29.5% in the 3rd quarter. Creative Planning now owns 34,779 shares of the company’s stock valued at $206,000 after purchasing an additional 7,914 shares during the period. Finally, Comerica Bank acquired a new position in Annexon in the 1st quarter valued at $72,000.

Annexon Trading Down 10.8 %

NASDAQ ANNX opened at $5.46 on Tuesday. The firm has a market capitalization of $576.87 million, a PE ratio of -5.20 and a beta of 1.23. The business’s 50-day moving average price is $6.91 and its two-hundred day moving average price is $5.93. Annexon, Inc. has a 12 month low of $2.27 and a 12 month high of $8.40.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Annexon in a report on Friday. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Annexon in a report on Friday. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research report on Friday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $15.80.

Insider Activity at Annexon

In related news, EVP Ted Yednock sold 5,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $5.64, for a total value of $31,020.00. Following the transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $56,400. The trade was a 35.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 20,908 shares of company stock valued at $135,768. 12.67% of the stock is owned by insiders.

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.