Vaccinex (NASDAQ:VCNX) Trading Down 9.8% – What’s Next?

Vaccinex, Inc. (NASDAQ:VCNX) was down 9.8% during mid-day trading on Thursday . The company traded as low as $0.61 and last traded at $0.70. Approximately 17,369 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 57,083 shares. The stock had previously closed at $0.78.

Vaccinex Price Performance

The stock has a market capitalization of $1.92 million, a price-to-earnings ratio of -0.02 and a beta of 1.10. The stock’s 50 day simple moving average is $1.06 and its 200-day simple moving average is $2.59.

Hedge Funds Weigh In On Vaccinex

A hedge fund recently raised its stake in Vaccinex stock. Point72 Asset Management L.P. grew its position in Vaccinex, Inc. (NASDAQ:VCNX) by 42.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 approximately 9.60% of Vaccinex worth $564,000 as of its most recent SEC filing. 50.11% of the stock is currently owned by hedge funds and other institutional investors.

About Vaccinex

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.