Fri Sep 20 07:12:56 UTC 2024: ## Bank of New York Mellon Boosts Annexon Holdings Amid Positive Analyst Sentiment
**New York, NY – September 20, 2024** – Bank of New York Mellon Corp has significantly increased its stake in Annexon, Inc. (NASDAQ:ANNX), a clinical-stage biopharmaceutical company focused on treating inflammatory-related diseases. The investment firm added 77,417 shares during the second quarter, boosting its total holdings to 258,033 shares, valued at $1,264,000.
This move follows a trend of institutional investors showing increasing interest in Annexon. Other notable investors who have recently increased their stakes include Bain Capital Life Sciences Investors LLC, Vanguard Group Inc., and Price T Rowe Associates Inc. MD.
Several research firms have also expressed confidence in Annexon’s future, with HC Wainwright, Needham & Company LLC, and Cantor Fitzgerald issuing “buy” or “overweight” ratings on the stock. The consensus rating from six analysts is “Buy,” with an average price target of $15.80.
Despite a recent insider sale by Executive Vice President Ted Yednock, overall insider activity in Annexon remains positive. Insiders have acquired more shares than they have sold in the last ninety days.
Annexon’s recent quarterly earnings report, released on August 12th, showed a loss per share of $0.23, meeting analyst expectations. The company’s lead candidate, ANX005, is currently in Phase 3 clinical trials for the treatment of Guillain-Barré syndrome and is also being investigated for Huntington’s disease and amyotrophic lateral sclerosis.
With growing institutional interest, positive analyst sentiment, and promising clinical developments, Annexon appears poised for continued growth in the coming months.
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