ChemoCentryx Inc (NASDAQ:CCXI) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 3,721,500 shares, an increase of 6.1% from the July 31st total of 3,507,000 shares. Currently, 9.2% of the shares of the company are sold short. Based on an average daily trading volume, of 494,500 shares, the short-interest ratio is currently 7.5 days.
Shares of NASDAQ CCXI traded up $0.01 during midday trading on Monday, reaching $7.59. The company had a trading volume of 5,103 shares, compared to its average volume of 310,472. The business’s 50-day simple moving average is $7.10 and its 200 day simple moving average is $9.99. The stock has a market cap of $437.99 million, a P/E ratio of -9.93 and a beta of 1.19. ChemoCentryx has a 1 year low of $6.16 and a 1 year high of $14.98. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.28.
ChemoCentryx (NASDAQ:CCXI) last posted its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.05). The company had revenue of $7.17 million during the quarter, compared to analysts’ expectations of $10.08 million. ChemoCentryx had a negative return on equity of 103.61% and a negative net margin of 144.27%. Analysts predict that ChemoCentryx will post -1.02 earnings per share for the current year.
A number of research analysts have issued reports on CCXI shares. Canaccord Genuity decreased their price target on shares of ChemoCentryx from $20.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, June 6th. ValuEngine raised shares of ChemoCentryx from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised shares of ChemoCentryx from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $16.00 to $14.00 in a report on Thursday. Raymond James decreased their price target on shares of ChemoCentryx from $24.00 to $17.00 and set a “strong-buy” rating for the company in a report on Thursday, June 6th. Finally, BidaskClub raised shares of ChemoCentryx from a “sell” rating to a “hold” rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $17.57.
Several institutional investors have recently modified their holdings of CCXI. Tower Research Capital LLC TRC purchased a new position in shares of ChemoCentryx during the second quarter worth $29,000. Quantamental Technologies LLC purchased a new position in shares of ChemoCentryx during the second quarter worth $46,000. BNP Paribas Arbitrage SA raised its holdings in shares of ChemoCentryx by 46,860.0% during the first quarter. BNP Paribas Arbitrage SA now owns 4,696 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 4,686 shares during the last quarter. Aperio Group LLC purchased a new position in shares of ChemoCentryx during the second quarter worth $82,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of ChemoCentryx by 104.2% during the second quarter. JPMorgan Chase & Co. now owns 11,191 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 5,710 shares during the last quarter. 64.27% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading: What are the Benefits of Index Funds?
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.