Martingale Asset Management L P trimmed its holdings in ChemoCentryx, Inc. (NASDAQ:CCXI – Get Rating) by 7.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 16,334 shares of the biopharmaceutical company's stock after selling 1,300 shares during the quarter. Martingale Asset Management L P's holdings in ChemoCentryx were worth $410,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of CCXI. UMB Bank N A MO purchased a new stake in shares of ChemoCentryx during the 4th quarter valued at about $37,000. Lazard Asset Management LLC bought a new stake in ChemoCentryx in the 4th quarter worth approximately $60,000. Prospera Financial Services Inc bought a new stake in ChemoCentryx in the 1st quarter worth approximately $46,000. Point72 Hong Kong Ltd purchased a new stake in ChemoCentryx during the 4th quarter valued at $115,000. Finally, Commerce Bank bought a new position in shares of ChemoCentryx during the 4th quarter valued at $219,000. Hedge funds and other institutional investors own 81.09% of the company's stock.
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Insider Activity
In related news, Director James L. Tyree sold 3,863 shares of the company's stock in a transaction on Thursday, June 9th. The shares were 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 owns 19,138 shares of the company's stock, valued at approximately $491,081.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director James L. Tyree sold 3,863 shares of the business's stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $25.66, for a total value of $99,124.58. Following the transaction, the director now directly owns 19,138 shares in the company, valued at $491,081.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas J. Schall sold 130,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 2,393,352 shares of the company's stock, valued at approximately $120,242,004.48. The disclosure for this sale can be found here. Insiders have sold 217,623 shares of company stock worth $10,848,962 in the last three months. Company insiders own 8.30% of the company's stock.
ChemoCentryx Price Performance
Shares of NASDAQ:CCXI opened at $51.42 on Tuesday. The firm's 50 day simple moving average is $35.35 and its two-hundred day simple moving average is $27.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.54 and a quick ratio of 4.47. The company has a market capitalization of $3.67 billion, a P/E ratio of -27.21 and a beta of 1.25. ChemoCentryx, Inc. has a 1-year low of $14.95 and a 1-year high of $51.78.
Analyst Upgrades and Downgrades
Several analysts recently commented on CCXI shares. SVB Leerink lowered ChemoCentryx from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $64.00 to $52.00 in a report on Friday, August 5th. StockNews.com upgraded shares of ChemoCentryx from a "sell" rating to a "hold" rating in a research note on Wednesday, August 10th. Stifel Nicolaus downgraded shares of ChemoCentryx from a "buy" rating to a "hold" rating in a report on Wednesday, August 10th. Canaccord Genuity Group cut shares of ChemoCentryx from a "buy" rating to a "hold" rating and set a $52.00 target price for the company. in a report on Friday, August 5th. Finally, HC Wainwright cut shares of ChemoCentryx from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $101.00 to $52.00 in a research note on Friday, August 5th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ChemoCentryx currently has a consensus rating of "Hold" and a consensus price target of $65.25.
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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