ChemoCentryx (NASDAQ:CCXI) Sets New 1-Year Low at $24.72

ChemoCentryx, Inc. (NASDAQ:CCXI) hit a new 52-week low on Tuesday . The stock traded as low as $24.72 and last traded at $31.09, with a volume of 154654 shares changing hands. The stock had previously closed at $48.82.

Several equities analysts have recently weighed in on CCXI shares. Stifel Nicolaus began coverage on ChemoCentryx in a report on Monday, March 8th. They issued a “buy” rating and a $93.00 price objective for the company. Raymond James raised their target price on shares of ChemoCentryx from $119.00 to $120.00 and gave the company a “strong-buy” rating in a research note on Monday, March 8th. HC Wainwright raised their target price on shares of ChemoCentryx from $83.00 to $101.00 and gave the company a “buy” rating in a research note on Tuesday, March 2nd. Finally, TheStreet downgraded shares of ChemoCentryx from a “c-” rating to a “d” rating in a research note on Tuesday, March 2nd. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $80.78.

The company’s 50-day simple moving average is $49.99 and its 200-day simple moving average is $57.15. The company has a debt-to-equity ratio of 0.05, a current ratio of 10.12 and a quick ratio of 10.12. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -49.33 and a beta of 1.70.

ChemoCentryx (NASDAQ:CCXI) last released its quarterly earnings results on Thursday, April 29th. The biopharmaceutical company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.03). ChemoCentryx had a negative net margin of 58.10% and a negative return on equity of 17.23%. Research analysts expect that ChemoCentryx, Inc. will post -0.72 earnings per share for the current year.

In other news, Director Thomas A. Edwards sold 400 shares of ChemoCentryx stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $70.04, for a total value of $28,016.00. Following the completion of the sale, the director now directly owns 120,957 shares in the company, valued at $8,471,828.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Treasurer Markus J. Cappel sold 33,092 shares of ChemoCentryx stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $68.43, for a total transaction of $2,264,485.56. Following the completion of the sale, the treasurer now owns 91,243 shares of the company’s stock, valued at $6,243,758.49. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,626 shares of company stock valued at $3,632,810. 9.30% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in CCXI. OLD Mission Capital LLC bought a new position in ChemoCentryx in the third quarter valued at approximately $423,000. Schonfeld Strategic Advisors LLC increased its stake in ChemoCentryx by 36.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 14,571 shares of the biopharmaceutical company’s stock valued at $798,000 after acquiring an additional 3,910 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in ChemoCentryx by 31.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 77,980 shares of the biopharmaceutical company’s stock valued at $4,273,000 after acquiring an additional 18,504 shares during the last quarter. Sei Investments Co. increased its stake in ChemoCentryx by 195.4% in the third quarter. Sei Investments Co. now owns 40,190 shares of the biopharmaceutical company’s stock valued at $2,202,000 after acquiring an additional 26,587 shares during the last quarter. Finally, Strs Ohio increased its stake in ChemoCentryx by 42.3% in the third quarter. Strs Ohio now owns 17,500 shares of the biopharmaceutical company’s stock valued at $959,000 after acquiring an additional 5,200 shares during the last quarter. 80.67% of the stock is currently owned by institutional investors and hedge funds.

About ChemoCentryx (NASDAQ:CCXI)

ChemoCentryx, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of new medications for inflammatory disorders, autoimmune diseases, and cancer in the United States. It develops Avacopan, an orally administered selective complement 5a receptor inhibitor for the treatment of anti-neutrophil cytoplasmic autoantibody-associated vasculitis; and completed Phase II clinical trial for the treatment of patients with severe hidradenitis suppurativa, as well as patients with complement 3 glomerulopathy.

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