Granahan Investment Management LLC purchased a new stake in shares of ChemoCentryx, Inc. (NASDAQ:CCXI – Get Rating) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 122,767 shares of the biopharmaceutical company's stock, valued at approximately $3,078,000. Granahan Investment Management LLC owned 0.18% of ChemoCentryx at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of CCXI. Pictet Asset Management SA acquired a new position in shares of ChemoCentryx during the fourth quarter valued at about $58,453,000. Millennium Management LLC raised its position in shares of ChemoCentryx by 1,663.6% during the fourth quarter. Millennium Management LLC now owns 1,228,224 shares of the biopharmaceutical company's stock valued at $44,720,000 after buying an additional 1,306,776 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of ChemoCentryx during the fourth quarter valued at about $30,184,000. Sofinnova Investments Inc. raised its position in ChemoCentryx by 6,040.6% in the fourth quarter. Sofinnova Investments Inc. now owns 731,222 shares of the biopharmaceutical company's stock worth $26,624,000 after purchasing an additional 719,314 shares in the last quarter. Finally, GW&K Investment Management LLC acquired a new position in ChemoCentryx in the fourth quarter worth about $23,746,000. 81.09% of the stock is currently owned by institutional investors.
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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 shares were sold at an average price of $50.24, for a total transaction of $6,531,200.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Thomas J. Schall sold 130,000 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $50.24, for a total transaction of $6,531,200.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Susan M. Kanaya sold 46,298 shares of the firm's stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $50.17, for a total transaction of $2,322,770.66. Following the completion of the transaction, the chief financial officer now directly owns 91,317 shares in the company, valued at $4,581,373.89. The disclosure for this sale can be found here. Insiders have sold 213,760 shares of company stock valued at $10,749,838 over the last three months. 8.30% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. HC Wainwright lowered 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 report on Friday, August 5th. SVB Leerink lowered shares of ChemoCentryx from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $64.00 to $52.00 in a research report on Friday, August 5th. Canaccord Genuity Group lowered shares of ChemoCentryx from a "buy" rating to a "hold" rating and set a $52.00 price target for the company. in a research report on Friday, August 5th. StockNews.com raised shares of ChemoCentryx from a "sell" rating to a "hold" rating in a research report on Wednesday, August 10th. Finally, Canaccord Genuity Group began coverage on shares of ChemoCentryx in a research note on Thursday, August 4th. They set a "buy" rating and a $81.00 price objective on the stock. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $65.25.
ChemoCentryx Price Performance
CCXI opened at $51.49 on Monday. ChemoCentryx, Inc. has a one year low of $14.95 and a one year high of $51.78. 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's 50 day simple moving average is $38.44 and its 200-day simple moving average is $28.43. The stock has a market capitalization of $3.67 billion, a P/E ratio of -27.24 and a beta of 1.25.
ChemoCentryx Company Profile
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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.
Further Reading
- Get a free copy of the StockNews.com research report on ChemoCentryx (CCXI)
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