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

Shares of AC Immune SA (NASDAQ:ACIU) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $3.00 and traded as low as $2.56. AC Immune shares last traded at $2.64, with a volume of 224,004 shares.

Analysts Set New Price Targets

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

AC Immune Stock Performance

The company’s fifty day moving average price is $3.00 and its 200 day moving average price is $3.26. The firm has a market capitalization of $261.20 million, a price-to-earnings ratio of -5.74 and a beta of 1.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in AC Immune by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 58,296 shares of the company’s stock valued at $220,000 after purchasing an additional 3,499 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in 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 valued at $72,000 after purchasing an additional 7,400 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in AC Immune in the 2nd quarter valued at about $218,000. Finally, Renaissance Technologies LLC lifted its position in AC Immune by 26.4% in the 2nd 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. 51.36% of the stock is owned by institutional investors and hedge funds.

AC Immune Company Profile

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.