Vaccinex (VCNX) Stock Rating Lowered by Zacks Investment Research

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Vaccinex (NASDAQ:VCNX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Vaccinex, Inc. is a clinical-stage immunotherapy company. It engages in the discovery and development of biotherapeutics to treat serious diseases and conditions with unmet medical needs, including cancer, neurodegenerative diseases and autoimmune disorders. The company’s product pipeline consists of VX15, VX5 and VX25 which are in clinical stage. Vaccinex, Inc. is based in Rochester, New York. “

Shares of VCNX stock traded down $0.39 during trading hours on Wednesday, reaching $6.62. 300 shares of the stock traded hands, compared to its average volume of 11,181. Vaccinex has a 1-year low of $3.32 and a 1-year high of $12.00. The firm has a market capitalization of $80.47 million and a P/E ratio of -1.28.

Vaccinex (NASDAQ:VCNX) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.75) by ($0.04). The firm had revenue of $0.09 million for the quarter. Equities research analysts predict that Vaccinex will post -2.2 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Telemetry Investments L.L.C. increased its position in Vaccinex by 26.3% in the 4th quarter. Telemetry Investments L.L.C. now owns 14,720 shares of the company’s stock valued at $54,000 after acquiring an additional 3,066 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Vaccinex in the 3rd quarter valued at about $124,000. Vanguard Group Inc. bought a new position in shares of Vaccinex in the 3rd quarter valued at about $341,000. Finally, Vanguard Group Inc bought a new position in shares of Vaccinex in the 3rd quarter valued at about $341,000. Hedge funds and other institutional investors own 2.10% of the company’s stock.

Vaccinex Company Profile

Vaccinex, Inc, a clinical-stage biotechnology company, discovers and develops bio therapeutics to treat serious diseases and conditions with unmet medical needs, including cancer, neurodegenerative diseases, and autoimmune disorders. Its lead product candidate is pepinemab that is in clinical development stage for the treatment of non-small cell lung cancer (NSCLC), osteosarcoma, melanoma, and Huntington's disease.

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