ChemoCentryx Inc (NASDAQ:CCXI) Short Interest Update

ChemoCentryx Inc (NASDAQ:CCXI) was the target of a significant growth in short interest during the month of November. As of November 29th, there was short interest totalling 3,700,000 shares, a growth of 24.2% from the November 14th total of 2,980,000 shares. Based on an average daily trading volume, of 1,100,000 shares, the short-interest ratio is currently 3.4 days. Approximately 9.5% of the company’s shares are sold short.

CCXI traded down $1.87 during midday trading on Friday, hitting $31.41. The company had a trading volume of 647,121 shares, compared to its average volume of 2,580,768. ChemoCentryx has a 52 week low of $6.16 and a 52 week high of $36.88. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -41.33 and a beta of 2.15. The stock’s 50 day moving average price is $16.59 and its 200 day moving average price is $10.13.

ChemoCentryx (NASDAQ:CCXI) last posted its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.06. ChemoCentryx had a negative net margin of 143.30% and a negative return on equity of 88.76%. The firm had revenue of $10.58 million during the quarter, compared to the consensus estimate of $7.83 million. Research analysts predict that ChemoCentryx will post -0.98 EPS for the current year.

A number of brokerages recently weighed in on CCXI. Canaccord Genuity lifted their target price on shares of ChemoCentryx from $16.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. lifted their target price on shares of ChemoCentryx from $14.00 to $28.00 and gave the stock a “positive” rating in a research note on Tuesday, November 26th. Raymond James lifted their target price on shares of ChemoCentryx from $17.00 to $56.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 26th. Zacks Investment Research raised shares of ChemoCentryx from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Thursday, November 28th. Finally, ValuEngine downgraded shares of ChemoCentryx from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $40.29.

In related news, Treasurer Markus J. Cappel sold 330,524 shares of ChemoCentryx stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $32.03, for a total transaction of $10,586,683.72. Following the completion of the transaction, the treasurer now owns 99,764 shares of the company’s stock, valued at $3,195,440.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Susan M. Kanaya sold 311,625 shares of ChemoCentryx stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $31.51, for a total transaction of $9,819,303.75. Following the transaction, the chief financial officer now directly owns 162,931 shares of the company’s stock, valued at approximately $5,133,955.81. The disclosure for this sale can be found here. Insiders have sold 921,315 shares of company stock valued at $29,213,675 in the last three months. 12.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CCXI. Strs Ohio increased its position in shares of ChemoCentryx by 6.8% in the 2nd quarter. Strs Ohio now owns 59,600 shares of the biopharmaceutical company’s stock valued at $554,000 after buying an additional 3,800 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of ChemoCentryx by 8.8% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 23,692 shares of the biopharmaceutical company’s stock valued at $220,000 after buying an additional 1,920 shares in the last quarter. Aperio Group LLC bought a new stake in shares of ChemoCentryx in the 2nd quarter valued at $82,000. DekaBank Deutsche Girozentrale increased its position in shares of ChemoCentryx by 65.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 33,000 shares of the biopharmaceutical company’s stock valued at $295,000 after buying an additional 13,000 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of ChemoCentryx by 13.5% in the 2nd quarter. Swiss National Bank now owns 47,100 shares of the biopharmaceutical company’s stock valued at $438,000 after buying an additional 5,600 shares in the last quarter. 60.72% of the stock is owned by hedge funds and other institutional investors.

ChemoCentryx Company Profile

ChemoCentryx, Inc, a clinical-stage biopharmaceutical company, develops new medications for inflammatory and autoimmune diseases, and cancer in the United States. The company targets the chemokine and chemoattractant systems to discover, develop, and commercialize orally-administered therapies. Its lead drug candidate is Avacopan, an orally-administered complement inhibitor of the complement C5a receptor (C5aR), is in Phase III development for the treatment of anti-neutrophil cytoplasmic auto-antibody-associated vasculitis.

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