ChemoCentryx Inc (NASDAQ:CCXI) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 3,507,000 shares, a drop of 16.2% from the June 30th total of 4,183,200 shares. Based on an average daily volume of 511,900 shares, the days-to-cover ratio is currently 6.9 days. Currently, 11.5% of the company’s shares are sold short.
Shares of NASDAQ:CCXI traded down $0.34 during midday trading on Thursday, reaching $6.47. The company had a trading volume of 30,712 shares, compared to its average volume of 370,616. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.57 and a current ratio of 3.57. ChemoCentryx has a 1-year low of $6.16 and a 1-year high of $14.98. The company has a market capitalization of $391.82 million, a price-to-earnings ratio of -8.75 and a beta of 1.07. The company has a fifty day simple moving average of $8.11.
ChemoCentryx (NASDAQ:CCXI) last announced its quarterly earnings data on Monday, August 5th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.05). ChemoCentryx had a negative return on equity of 103.61% and a negative net margin of 144.27%. The business had revenue of $7.17 million for the quarter, compared to analyst estimates of $10.08 million. As a group, sell-side analysts forecast that ChemoCentryx will post -1.02 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in CCXI. Bank of New York Mellon Corp lifted its stake in ChemoCentryx by 10.2% in the fourth quarter. Bank of New York Mellon Corp now owns 139,805 shares of the biopharmaceutical company’s stock valued at $1,525,000 after buying an additional 12,957 shares during the last quarter. Raymond James & Associates bought a new stake in ChemoCentryx in the fourth quarter valued at $133,000. Dimensional Fund Advisors LP lifted its stake in ChemoCentryx by 15.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 632,061 shares of the biopharmaceutical company’s stock valued at $6,896,000 after buying an additional 84,290 shares during the last quarter. Geode Capital Management LLC lifted its stake in ChemoCentryx by 33.0% in the fourth quarter. Geode Capital Management LLC now owns 333,917 shares of the biopharmaceutical company’s stock valued at $3,642,000 after buying an additional 82,918 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its stake in ChemoCentryx by 369.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,804 shares of the biopharmaceutical company’s stock valued at $96,000 after buying an additional 6,930 shares during the last quarter. Hedge funds and other institutional investors own 58.14% of the company’s stock.
A number of equities analysts recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $23.00 price target on shares of ChemoCentryx in a research report on Tuesday, May 7th. BidaskClub upgraded ChemoCentryx from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 6th. Canaccord Genuity decreased their price target on ChemoCentryx from $20.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, June 6th. Zacks Investment Research lowered ChemoCentryx from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Raymond James decreased their price target on ChemoCentryx from $24.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $18.17.
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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