Annexon, Inc. (NASDAQ: ANNX) experienced a remarkable surge in its stock price, skyrocketing by 35.71% on May 26th. This surge was attributed to the news that K2 Principal Fund L.P. significantly increased its holdings in the company by 195.1% during the fourth quarter. The revelation came to light through the most recent filing with the Securities and Exchange Commission (SEC).
Prior to this development, K2 Principal Fund L.P. owned 145,564 (145.45K) shares of Annexon’s stock. However, they decided to acquire an additional 96,233 (96.23K) shares during the quarter, resulting in a total ownership of 241,797 (241.79K) shares. The value of their holdings amounted to $753,000 ($753K) at the end of the most recent quarter, equivalent to approximately 0.31% of Annexon’s overall worth.
Moreover, several other prominent hedge funds have also made adjustments to their holdings in Annexon, Inc.
Bank of America Corp DE
Bank of America Corp DE increased its position in Annexon by 29.7% during the fourth quarter. Presently, Bank of America Corp DE owns 8,938 (8.93K) shares of Annexon’s stock, valued at $46,000 ($46K), after acquiring an additional 2,049 (2.04K) shares.
Citigroup Inc.
Citigroup Inc. experienced a substantial growth of 1,868.9% in its position in Annexon during the same period. Currently, Citigroup Inc. holds 80,509 shares of Annexon’s stock, amounting to $416,000, following the purchase of an additional 76,420 shares.
Bank of Montreal Canada
Bank of Montreal Canada entered the scene by acquiring a new stake in Annexon during the fourth quarter. The value of this investment is estimated to be around $365,000 ($365K).
EWG Elevate Inc.
EWG Elevate Inc. also expanded its position in Annexon by 50.0% in the fourth quarter. With the purchase of an additional 5,000 shares, EWG Elevate Inc. now owns 15,000 shares of Annexon’s stock, valued at $78,000.
These recent modifications in holdings by various hedge funds indicate growing investor confidence in Annexon, contributing to the surge in the company’s share price.
Zabih Ullah is a seasoned finance writer with more than ten years of experience. He is highly skilled at analyzing market trends, decoding economic data, and providing insightful commentary on various financial topics. Driven by his curiosity, Zabih stays updated with the latest developments in the finance industry, ensuring that his readers receive timely and relevant news and analysis.
