Vaccinex (NASDAQ:VCNX) Shares Down 47.6% – Should You Sell?

Shares of Vaccinex, Inc. (NASDAQ:VCNX) were down 47.6% on Thursday . The stock traded as low as $0.52 and last traded at $0.52. Approximately 4,332 shares were traded during trading, a decline of 92% from the average daily volume of 57,184 shares. The stock had previously closed at $1.00.

Vaccinex Stock Performance

The company has a market capitalization of $1.56 million, a price-to-earnings ratio of -0.01 and a beta of 1.10. The company’s fifty day simple moving average is $0.94 and its two-hundred day simple moving average is $2.08.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Vaccinex stock. Point72 Asset Management L.P. increased its holdings in Vaccinex, Inc. (NASDAQ:VCNX) by 42.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 166,000 shares of the company’s stock after buying an additional 49,454 shares during the period. Point72 Asset Management L.P. owned about 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 and hedge funds.

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.