Principal Financial Group Inc. Acquires 249,434 Shares of ChemoCentryx, Inc. (NASDAQ:CCXI)

Principal Financial Group Inc. grew its holdings in shares of ChemoCentryx, Inc. (NASDAQ:CCXIGet Rating) by 81.8% in the second quarter, HoldingsChannel.com reports. The fund owned 554,300 shares of the biopharmaceutical company’s stock after purchasing an additional 249,434 shares during the period. Principal Financial Group Inc.’s holdings in ChemoCentryx were worth $13,735,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. RA Capital Management L.P. purchased a new position in ChemoCentryx in the 1st quarter worth approximately $28,980,000. State Street Corp boosted its position in shares of ChemoCentryx by 36.6% during the first quarter. State Street Corp now owns 3,641,663 shares of the biopharmaceutical company’s stock valued at $91,296,000 after purchasing an additional 975,456 shares in the last quarter. Pictet Asset Management SA boosted its holdings in ChemoCentryx by 28.9% in the second quarter. Pictet Asset Management SA now owns 2,372,645 shares of the biopharmaceutical company’s stock worth $58,794,000 after acquiring an additional 532,478 shares in the last quarter. GW&K Investment Management LLC boosted its holdings in 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 worth $29,115,000 after acquiring an additional 509,151 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of ChemoCentryx by 32.2% in the first quarter. Invesco Ltd. now owns 1,610,991 shares of the biopharmaceutical company’s stock worth $40,388,000 after purchasing an additional 392,803 shares during the last quarter. Institutional investors own 81.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on CCXI shares. Stifel Nicolaus cut ChemoCentryx from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. HC Wainwright cut ChemoCentryx from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $101.00 to $52.00 in a research report on Friday, August 5th. Canaccord Genuity Group began coverage on ChemoCentryx in a research report on Thursday, August 4th. They set a “buy” rating and a $81.00 price objective for the company. StockNews.com began coverage on ChemoCentryx in a research report on Friday. They issued a “hold” rating for the company. Finally, SVB Leerink cut 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 research report on Friday, August 5th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $64.40.

ChemoCentryx Stock Performance

NASDAQ CCXI opened at $51.99 on Friday. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of -27.51 and a beta of 1.22. 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 moving average price of $51.90 and a 200-day moving average price of $39.21. ChemoCentryx, Inc. has a twelve month low of $14.95 and a twelve month high of $52.00.

About ChemoCentryx

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding CCXI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ChemoCentryx, Inc. (NASDAQ:CCXIGet Rating).

Institutional Ownership by Quarter for ChemoCentryx (NASDAQ:CCXI)

Receive News & Ratings for ChemoCentryx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChemoCentryx and related companies with MarketBeat.com's FREE daily email newsletter.