Vaccinex (NASDAQ:VCNX) Trading Down 3.4% – Here’s Why

Vaccinex, Inc. (NASDAQ:VCNX) shares were down 3.4% on Tuesday . The stock 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 Down 3.4 %

The company has a market capitalization of $2.76 million, a price-to-earnings ratio of -0.02 and a beta of 1.10. The business has a 50-day moving average price of $2.79 and a 200-day moving average price of $4.23.

Institutional Trading of Vaccinex

A hedge fund recently raised its stake in Vaccinex stock. Point72 Asset Management L.P. lifted its position in Vaccinex, Inc. (NASDAQ:VCNX) by 42.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 166,000 shares of the company’s stock after acquiring an additional 49,454 shares during the quarter. Point72 Asset Management L.P. owned approximately 9.60% of Vaccinex worth $564,000 as of its most recent filing with the SEC. 50.11% of the stock is owned by 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.