ChemoCentryx (NASDAQ:CCXI) Hits New 12-Month High at $51.84

ChemoCentryx, Inc. (NASDAQ:CCXIGet Rating)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $51.84 and last traded at $51.81, with a volume of 10690 shares traded. The stock had previously closed at $51.56.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Canaccord Genuity Group assumed coverage on ChemoCentryx in a report on Thursday, August 4th. They set a “buy” rating and a $81.00 price objective for the company. Canaccord Genuity Group lowered ChemoCentryx from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a report on Friday, August 5th. 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. Stifel Nicolaus lowered ChemoCentryx from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Finally, HC Wainwright lowered ChemoCentryx from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $101.00 to $52.00 in a report on Friday, August 5th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $65.25.

ChemoCentryx Price Performance

The stock has a market cap of $3.70 billion, a P/E ratio of -27.41 and a beta of 1.25. 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 business has a 50-day simple moving average of $42.77 and a 200-day simple moving average of $29.77.

Insiders Place Their Bets

In other ChemoCentryx news, CEO Thomas J. Schall sold 130,000 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $50.24, for a total transaction of $6,531,200.00. Following the completion of the sale, the chief executive officer now 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Susan M. Kanaya sold 19,898 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $50.95, for a total value of $1,013,803.10. Following the completion of the sale, the chief financial officer now directly owns 91,317 shares of the company’s stock, valued at $4,652,601.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 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 disclosure for this sale can be found here. Insiders sold 213,760 shares of company stock valued at $10,749,838 over the last 90 days. 8.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ChemoCentryx

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE boosted its position in shares of ChemoCentryx by 8.2% in the fourth quarter. Bank of America Corp DE now owns 76,895 shares of the biopharmaceutical company’s stock valued at $2,799,000 after acquiring an additional 5,810 shares during the period. Nuveen Asset Management LLC boosted its position in shares of ChemoCentryx by 86.1% in the fourth quarter. Nuveen Asset Management LLC now owns 385,423 shares of the biopharmaceutical company’s stock valued at $14,033,000 after acquiring an additional 178,325 shares during the period. GW&K Investment Management LLC boosted its position in shares of ChemoCentryx by 78.1% in the first quarter. GW&K Investment Management LLC now owns 1,161,347 shares of the biopharmaceutical company’s stock valued at $29,115,000 after acquiring an additional 509,151 shares during the period. Cahill Wealth Management LLC bought a new position in ChemoCentryx in the first quarter worth $1,125,000. Finally, Sofinnova Investments Inc. lifted 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 during the period. 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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