AC Immune SA (NASDAQ:ACIU) Sees Large Decrease in Short Interest

AC Immune SA (NASDAQ:ACIU) was the recipient of a large drop in short interest in March. As of March 15th, there was short interest totalling 583,000 shares, a drop of 7.2% from the February 29th total of 628,000 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 152,400 shares, the days-to-cover ratio is presently 3.8 days.

AC Immune Stock Down 2.3 %

AC Immune stock opened at $2.96 on Monday. AC Immune has a 52 week low of $1.78 and a 52 week high of $5.14. The company’s 50 day moving average price is $3.34 and its two-hundred day moving average price is $3.38. The stock has a market cap of $292.74 million, a P/E ratio of -4.17 and a beta of 1.03.

Institutional Investors Weigh In On AC Immune

A number of hedge funds have recently modified their holdings of the stock. BVF Inc. IL raised its holdings in shares of AC Immune by 96.2% in the 4th quarter. BVF Inc. IL now owns 14,571,236 shares of the company’s stock worth $72,856,000 after purchasing an additional 7,142,857 shares during the period. Avidity Partners Management LP raised its holdings in shares of AC Immune by 50.5% in the 4th quarter. Avidity Partners Management LP now owns 4,469,080 shares of the company’s stock worth $22,345,000 after purchasing an additional 1,499,280 shares during the period. Platinum Investment Management Ltd. raised its holdings in shares of AC Immune by 14.6% in the 4th quarter. Platinum Investment Management Ltd. now owns 1,515,585 shares of the company’s stock worth $7,578,000 after purchasing an additional 193,123 shares during the period. Wells Fargo & Company MN raised its holdings in shares of AC Immune by 16.7% in the 2nd quarter. Wells Fargo & Company MN now owns 1,139,758 shares of the company’s stock worth $3,368,000 after purchasing an additional 162,926 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of AC Immune by 4.9% in the 2nd quarter. Renaissance Technologies LLC now owns 474,590 shares of the company’s stock worth $1,713,000 after purchasing an additional 22,100 shares during the period. Institutional investors own 51.36% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $16.00 target price on shares of AC Immune in a research report on Friday, March 15th.

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.