Insider Selling: ChemoCentryx Inc (NASDAQ:CCXI) CFO Sells 35,000 Shares of Stock

ChemoCentryx Inc (NASDAQ:CCXI) CFO Susan M. Kanaya sold 35,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $13.05, for a total transaction of $456,750.00. Following the transaction, the chief financial officer now owns 110,890 shares in the company, valued at $1,447,114.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of CCXI traded down $0.16 during trading hours on Friday, reaching $12.13. 359,298 shares of the company traded hands, compared to its average volume of 720,002. The firm has a market capitalization of $700.22 million, a P/E ratio of -15.96 and a beta of 1.32. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.82 and a current ratio of 2.82. ChemoCentryx Inc has a 1-year low of $9.07 and a 1-year high of $14.98.

ChemoCentryx (NASDAQ:CCXI) last announced its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.21) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.06. The business had revenue of $9.33 million during the quarter, compared to analyst estimates of $9.54 million. ChemoCentryx had a negative net margin of 88.55% and a negative return on equity of 167.57%. As a group, equities analysts forecast that ChemoCentryx Inc will post -1.15 earnings per share for the current year.

CCXI has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of ChemoCentryx from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Wednesday, January 16th. Svb Leerink reiterated an “outperform” rating on shares of ChemoCentryx in a report on Thursday, February 14th. ValuEngine upgraded shares of ChemoCentryx from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 25th. B. Riley started coverage on shares of ChemoCentryx in a report on Tuesday, January 8th. They set a “neutral” rating and a $12.50 price target for the company. Finally, Piper Jaffray Companies started coverage on shares of ChemoCentryx in a report on Monday, February 11th. They set an “overweight” rating and a $20.00 price target for the company. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $18.14.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in ChemoCentryx by 3.0% during the third quarter. BlackRock Inc. now owns 2,802,721 shares of the biopharmaceutical company’s stock worth $35,425,000 after buying an additional 80,783 shares during the last quarter. Rhumbline Advisers grew its stake in ChemoCentryx by 44.9% during the fourth quarter. Rhumbline Advisers now owns 30,596 shares of the biopharmaceutical company’s stock worth $334,000 after buying an additional 9,479 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in ChemoCentryx by 70.5% during the third quarter. Dimensional Fund Advisors LP now owns 547,771 shares of the biopharmaceutical company’s stock worth $6,922,000 after buying an additional 226,485 shares during the last quarter. SG Americas Securities LLC bought a new stake in ChemoCentryx during the fourth quarter worth about $196,000. Finally, VHCP Management III LLC bought a new stake in ChemoCentryx during the third quarter worth about $493,000. 54.11% of the stock is owned by hedge funds and other institutional investors.

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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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