Vaccinex (VCNX) Downgraded by Zacks Investment Research

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

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. “

Several other research firms have also commented on VCNX. BTIG Research began coverage on shares of Vaccinex in a research report on Tuesday, September 4th. They set a “buy” rating for the company. Oppenheimer set a $22.00 price target on shares of Vaccinex and gave the company a “buy” rating in a research report on Tuesday. Finally, LADENBURG THALM/SH SH began coverage on shares of Vaccinex in a research report on Tuesday, September 4th. They set a “buy” rating and a $22.00 price target for the company.

NASDAQ:VCNX traded up $0.15 during mid-day trading on Friday, reaching $6.35. The company’s stock had a trading volume of 836 shares, compared to its average volume of 2,584. Vaccinex has a 1 year low of $5.51 and a 1 year high of $12.00.

Vaccinex (NASDAQ:VCNX) last released its quarterly earnings data on Tuesday, November 13th. The company reported ($0.93) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.64) by ($0.29). The company had revenue of $0.20 million for the quarter. Analysts predict that Vaccinex will post -4.01 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the business. Perceptive Advisors LLC purchased a new stake in shares of Vaccinex during the third quarter valued at about $365,000. Bank of New York Mellon Corp purchased a new stake in shares of Vaccinex during the third quarter valued at about $124,000. Finally, Nexthera Capital LP purchased a new stake in shares of Vaccinex during the third quarter valued at about $124,000.

Vaccinex Company Profile

Vaccinex, Inc operates as a clinical-stage biotechnology company. It engages in the discovery and development of bio therapeutics to treat serious diseases and conditions with unmet medical needs, including cancer, neurodegenerative diseases, and autoimmune disorders. Its lead product candidate is VX15 that is in Phase Ib/II clinical trials for the treatment of advanced solid tumors, including non-small cell lung cancer, osteosarcoma, and melanoma; and Phase II clinical trials for the treatment of Huntington's disease.

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