Vaccinex (NASDAQ:VCNX) Shares Down 3.4% – What’s Next?

Shares of Vaccinex, Inc. (NASDAQ:VCNX) were down 3.4% during mid-day trading on Tuesday . The company traded as low as $1.02 and last traded at $1.06. Approximately 4,064 shares were traded during trading, an increase of 1% from the average daily volume of 4,016 shares. The stock had previously closed at $1.10.

Vaccinex Stock Performance

The company has a 50 day moving average price of $2.73 and a 200 day moving average price of $4.20. The company has a market capitalization of $2.47 million, a price-to-earnings ratio of -0.02 and a beta of 1.10.

Hedge Funds Weigh In On Vaccinex

A hedge fund recently raised its stake in Vaccinex stock. Point72 Asset Management L.P. raised its stake in Vaccinex, Inc. (NASDAQ:VCNX) by 42.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 166,000 shares of the company’s stock after purchasing an additional 49,454 shares during the quarter. Point72 Asset Management L.P. owned 9.60% of Vaccinex worth $564,000 as of its most recent filing with the Securities & Exchange Commission. 50.11% of the stock is currently owned by hedge funds and other institutional investors.

Vaccinex Company Profile

Vaccinex, Inc, a clinical-stage biotechnology company, engages in the discovery and development of targeted biotherapeutics to treat cancer, neurodegenerative diseases, and autoimmune disorders. The company's lead drug candidate, pepinemab, a humanized monoclonal antibody that binds and blocks the activity of SEMA4D.