ChemoCentryx Inc (CCXI) Short Interest Down 40.8% in November

ChemoCentryx Inc (NASDAQ:CCXI) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 1,443,448 shares, a drop of 40.8% from the October 31st total of 2,439,799 shares. Based on an average daily volume of 158,408 shares, the short-interest ratio is presently 9.1 days. Approximately 4.8% of the company’s stock are short sold.

In related news, insider Plc Glaxosmithkline sold 7,343,492 shares of ChemoCentryx stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $11.69, for a total value of $85,845,421.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas J. Schall sold 7,211 shares of ChemoCentryx stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $12.00, for a total value of $86,532.00. Following the completion of the transaction, the insider now owns 2,192,205 shares of the company’s stock, valued at $26,306,460. The disclosure for this sale can be found here. Insiders sold 7,380,940 shares of company stock valued at $86,264,863 over the last quarter. Insiders own 14.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of ChemoCentryx by 7.3% during the third quarter. Vanguard Group Inc. now owns 1,329,494 shares of the biopharmaceutical company’s stock valued at $16,805,000 after buying an additional 90,899 shares during the last quarter. MetLife Investment Advisors LLC raised its holdings in shares of ChemoCentryx by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 19,233 shares of the biopharmaceutical company’s stock valued at $243,000 after buying an additional 6,841 shares during the last quarter. Man Group plc bought a new stake in shares of ChemoCentryx during the third quarter valued at approximately $255,000. Matarin Capital Management LLC bought a new stake in shares of ChemoCentryx during the third quarter valued at approximately $960,000. Finally, Algert Global LLC raised its holdings in shares of ChemoCentryx by 6.8% during the third quarter. Algert Global LLC now owns 102,281 shares of the biopharmaceutical company’s stock valued at $1,293,000 after buying an additional 6,497 shares during the last quarter. 54.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ CCXI opened at $10.05 on Monday. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.69. ChemoCentryx has a 52-week low of $5.42 and a 52-week high of $15.08. The stock has a market capitalization of $507.79 million, a price-to-earnings ratio of 27.92 and a beta of 1.78.

ChemoCentryx (NASDAQ:CCXI) last issued its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.03. ChemoCentryx had a net margin of 13.88% and a return on equity of 32.16%. The firm had revenue of $8.98 million for the quarter, compared to analysts’ expectations of $11.55 million. As a group, analysts anticipate that ChemoCentryx will post -0.83 EPS for the current fiscal year.

A number of research firms recently commented on CCXI. BidaskClub upgraded ChemoCentryx from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. Canaccord Genuity reissued a “buy” rating and issued a $18.00 target price on shares of ChemoCentryx in a report on Friday, August 10th. ValuEngine cut shares of ChemoCentryx from a “buy” rating to a “hold” rating in a report on Friday, September 7th. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of ChemoCentryx in a report on Monday, August 13th. Finally, JPMorgan Chase & Co. cut shares of ChemoCentryx from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $14.00 to $15.00 in a report on Tuesday, August 14th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $16.92.

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ChemoCentryx Company Profile

ChemoCentryx, Inc, a clinical-stage biopharmaceutical company, develops new medications for inflammatory and autoimmune diseases, and cancer in the United States. The company targets the chemokine and chemoattractant systems to discover, develop, and commercialize orally-administered therapies. Its lead drug candidate is Avacopan, an orally-administered complement inhibitor of the complement C5a receptor (C5aR), is in Phase III development for the treatment of anti-neutrophil cytoplasmic auto-antibody-associated vasculitis (AAV).

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