AC Immune (NASDAQ:ACIU) Stock Passes Below 200-Day Moving Average – Here’s What Happened

AC Immune SA (NASDAQ:ACIU)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.51 and traded as low as $2.87. AC Immune shares last traded at $2.94, with a volume of 79,680 shares.

Analysts Set New Price Targets

ACIU has been the subject of several analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of AC Immune in a report on Friday, November 15th. StockNews.com cut shares of AC Immune from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st.

AC Immune Stock Up 0.7 %

The firm has a 50 day simple moving average of $3.17 and a two-hundred day simple moving average of $3.51. The stock has a market capitalization of $290.88 million, a P/E ratio of -6.39 and a beta of 1.26.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its stake in shares of AC Immune by 294.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 439,730 shares of the company’s stock valued at $1,755,000 after acquiring an additional 328,312 shares during the last quarter. Renaissance Technologies LLC raised its position in AC Immune by 26.4% in the second quarter. Renaissance Technologies LLC now owns 652,079 shares of the company’s stock valued at $2,602,000 after purchasing an additional 136,300 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of AC Immune during the second quarter valued at about $218,000. Vanguard Capital Wealth Advisors acquired a new stake in shares of AC Immune during the second quarter valued at about $56,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of AC Immune by 63.7% during the third 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 during the last quarter. 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.