AC Immune (NASDAQ:ACIU) Shares Down 4.4% – Here’s What Happened

Shares of AC Immune SA (NASDAQ:ACIU) were down 4.4% during mid-day trading on Wednesday . The company traded as low as $2.75 and last traded at $2.80. Approximately 71,081 shares were traded during trading, a decline of 45% from the average daily volume of 128,556 shares. The stock had previously closed at $2.93.

Analyst Ratings Changes

Several brokerages have commented on ACIU. StockNews.com downgraded shares of AC Immune from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of AC Immune in a research report on Friday, November 15th.

AC Immune Stock Down 4.4 %

The business has a fifty day moving average of $3.05 and a 200 day moving average of $3.32. The company has a market cap of $277.03 million, a P/E ratio of -6.09 and a beta of 1.29.

Hedge Funds Weigh In On AC Immune

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACIU. Renaissance Technologies LLC lifted its stake in shares of AC Immune by 26.4% in the second quarter. Renaissance Technologies LLC now owns 652,079 shares of the company’s stock worth $2,602,000 after buying an additional 136,300 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in AC Immune in the 2nd quarter valued at approximately $218,000. Vanguard Capital Wealth Advisors purchased a new stake in AC Immune during the 2nd quarter valued at $56,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of AC Immune by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 19,021 shares of the company’s stock worth $72,000 after purchasing an additional 7,400 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of AC Immune by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 58,296 shares of the company’s stock worth $220,000 after purchasing an additional 3,499 shares in the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

About AC Immune

AC Immune SA, a clinical stage biopharmaceutical company, discovers, designs, and develops medicines and diagnostic products for the prevention and treatment of neurodegenerative diseases associated with protein misfolding. Its SupraAntigen and Morphomer platforms are designed to generate vaccines, antibodies, and small molecules, which selectively interact with misfolded proteins that are common in a range of neurodegenerative diseases.