ChemoCentryx Target of Unusually High Options Trading (NASDAQ:CCXI)

ChemoCentryx, Inc. (NASDAQ:CCXIGet Rating) was the recipient of some unusual options trading activity on Friday. Stock traders purchased 1,694 put options on the stock. This is an increase of approximately 23% compared to the average daily volume of 1,373 put options.

Insider Activity

In other news, Director James L. Tyree sold 3,863 shares of the firm’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $25.66, for a total transaction of $99,124.58. Following the completion of the transaction, the director now owns 19,138 shares of the company’s stock, valued at $491,081.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in ChemoCentryx by 64.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,534 shares of the biopharmaceutical company’s stock worth $347,000 after purchasing an additional 3,734 shares during the last quarter. Bank of America Corp DE boosted its holdings in ChemoCentryx by 8.2% during the fourth quarter. Bank of America Corp DE now owns 76,895 shares of the biopharmaceutical company’s stock worth $2,799,000 after purchasing an additional 5,810 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in ChemoCentryx by 86.1% during the fourth quarter. Nuveen Asset Management LLC now owns 385,423 shares of the biopharmaceutical company’s stock worth $14,033,000 after purchasing an additional 178,325 shares during the last quarter. Mutual of America Capital Management LLC boosted its holdings in ChemoCentryx by 18.6% during the fourth quarter. Mutual of America Capital Management LLC now owns 141,600 shares of the biopharmaceutical company’s stock worth $5,156,000 after purchasing an additional 22,200 shares during the last quarter. Finally, 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 acquiring an additional 719,314 shares during the period. 82.28% of the stock is currently owned by institutional investors and hedge funds.

ChemoCentryx Stock Up 0.2 %

Shares of NASDAQ CCXI opened at $50.52 on Friday. The stock has a market capitalization of $3.60 billion, a P/E ratio of -25.13 and a beta of 1.67. The company has a 50-day moving average price of $25.29 and a 200-day moving average price of $24.45. ChemoCentryx has a 1 year low of $13.11 and a 1 year high of $50.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.11 and a quick ratio of 5.07.

ChemoCentryx (NASDAQ:CCXIGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.25). The business had revenue of $5.46 million for the quarter, compared to analyst estimates of $4.43 million. ChemoCentryx had a negative net margin of 514.64% and a negative return on equity of 47.24%. During the same quarter in the prior year, the business earned ($0.43) earnings per share. On average, equities research analysts forecast that ChemoCentryx will post -1.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group downgraded shares of ChemoCentryx from a “buy” rating to a “hold” rating and set a $52.00 target price for the company. in a research note on Friday. Canaccord Genuity Group assumed coverage on shares of ChemoCentryx in a research note on Thursday. They set a “buy” rating and a $81.00 target price for the company. StockNews.com downgraded shares of ChemoCentryx from a “hold” rating to a “sell” rating in a research note on Tuesday. SVB Leerink cut shares of ChemoCentryx from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $64.00 to $52.00 in a report on Friday. Finally, HC Wainwright cut shares of ChemoCentryx from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $101.00 to $52.00 in a report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $65.11.

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.

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