ChemoCentryx, Inc. (NASDAQ:CCXI – Get Rating)'s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $51.50 and last traded at $51.46, with a volume of 19905 shares traded. The stock had previously closed at $50.98.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on CCXI shares. SVB Leerink cut ChemoCentryx from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $64.00 to $52.00 in a research report on Friday, August 5th. Canaccord Genuity Group started coverage on ChemoCentryx in a research report on Thursday, August 4th. They set a "buy" rating and a $81.00 target price for the company. Stifel Nicolaus cut ChemoCentryx from a "buy" rating to a "hold" rating in a research report on Wednesday, August 10th. StockNews.com raised ChemoCentryx from a "sell" rating to a "hold" rating in a research report on Wednesday, August 10th. Finally, Canaccord Genuity Group cut ChemoCentryx from a "buy" rating to a "hold" rating and set a $52.00 target price for the company. in a research report on Friday, August 5th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $65.25.
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ChemoCentryx Stock Up 1.0 %
The company has a quick ratio of 4.47, a current ratio of 4.54 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $3.67 billion, a P/E ratio of -26.97 and a beta of 1.67. The firm has a 50-day moving average price of $34.87 and a two-hundred day moving average price of $27.42.
Insider Activity
In other news, CEO Thomas J. Schall sold 130,000 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $50.24, for a total value of $6,531,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,393,352 shares of the company's stock, valued at $120,242,004.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Thomas J. Schall sold 130,000 shares of the firm's stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $50.24, for a total value of $6,531,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,393,352 shares of the company's stock, valued at $120,242,004.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James L. Tyree sold 3,863 shares of the firm's stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $25.66, for a total value of $99,124.58. Following the completion of the transaction, the director now directly owns 19,138 shares of the company's stock, valued at $491,081.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 217,623 shares of company stock valued at $10,848,962. 8.30% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP raised its stake in ChemoCentryx by 4.4% during the first quarter. Engineers Gate Manager LP now owns 12,780 shares of the biopharmaceutical company's stock worth $320,000 after acquiring an additional 540 shares in the last quarter. Teacher Retirement System of Texas raised its stake in ChemoCentryx by 9.2% during the first quarter. Teacher Retirement System of Texas now owns 9,999 shares of the biopharmaceutical company's stock worth $251,000 after acquiring an additional 841 shares in the last quarter. Swiss National Bank raised its stake in ChemoCentryx by 0.8% during the fourth quarter. Swiss National Bank now owns 107,700 shares of the biopharmaceutical company's stock worth $3,921,000 after acquiring an additional 900 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in ChemoCentryx by 1.4% during the second quarter. UBS Asset Management Americas Inc. now owns 69,953 shares of the biopharmaceutical company's stock worth $1,733,000 after acquiring an additional 971 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in ChemoCentryx by 7.5% during the second quarter. Victory Capital Management Inc. now owns 14,077 shares of the biopharmaceutical company's stock worth $349,000 after acquiring an additional 981 shares in the last quarter. 81.09% of the stock is owned by institutional investors.
About ChemoCentryx
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ChemoCentryx, Inc, a biopharmaceutical company, focuses on the development and commercialization of new medications for inflammatory disorders, autoimmune diseases, and cancer in the United States. It offers TAVNEOS (avacopan), an orally administered selective C5aR inhibitor for the treatment of adult patients with severe active anti-neutrophil cytoplasmic autoantibody-associated vasculitis.
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