Vaccinex (NASDAQ:VCNX) Trading 11.1% Higher – Time to Buy?

Vaccinex, Inc. (NASDAQ:VCNX)’s share price rose 11.1% during mid-day trading on Tuesday . The company traded as high as $4.73 and last traded at $4.59. Approximately 166,955 shares changed hands during mid-day trading, an increase of 195% from the average daily volume of 56,660 shares. The stock had previously closed at $4.13.

Vaccinex Stock Performance

The firm has a market cap of $11.93 million, a price-to-earnings ratio of -0.10 and a beta of 1.10. The business’s 50 day moving average price is $3.14 and its 200-day moving average price is $4.95.

Institutional Investors Weigh In On Vaccinex

A hedge fund recently raised its stake in Vaccinex stock. Point72 Asset Management L.P. raised its position in Vaccinex, Inc. (NASDAQ:VCNX) by 42.4% during the 3rd quarter, according to its most recent disclosure with the Securities and 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 about 9.60% of Vaccinex worth $564,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 50.11% of the company’s stock.

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.