Vaccinex (NASDAQ:VCNX) Shares Up 5.9% – Time to Buy?

Vaccinex, Inc. (NASDAQ:VCNX)’s share price traded up 5.9% during trading on Wednesday . The stock traded as high as $1.30 and last traded at $1.26. 1,975 shares changed hands during trading, a decline of 42% from the average session volume of 3,426 shares. The stock had previously closed at $1.19.

Vaccinex Trading Up 5.9 %

The company has a market cap of $3.28 million, a PE ratio of -0.03 and a beta of 1.10. The stock has a fifty day simple moving average of $2.09 and a two-hundred day simple moving average of $3.64.

Institutional Trading of Vaccinex

An institutional investor recently raised its position in Vaccinex stock. Point72 Asset Management L.P. raised its stake in Vaccinex, Inc. (NASDAQ:VCNX) by 42.4% in the third 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 acquiring an additional 49,454 shares during the quarter. Point72 Asset Management L.P. owned approximately 9.60% of Vaccinex worth $564,000 at the end of the most recent quarter. Institutional investors and hedge funds own 50.11% of the company’s stock.

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.