ChemoCentryx Inc (NASDAQ:CCXI) Short Interest Update

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ChemoCentryx Inc (NASDAQ:CCXI) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 3,507,000 shares, a drop of 16.2% from the June 30th total of 4,183,200 shares. Based on an average daily volume of 511,900 shares, the days-to-cover ratio is currently 6.9 days. Currently, 11.5% of the company’s shares are sold short.

A number of equities research analysts have commented on the company. Canaccord Genuity decreased their price objective on ChemoCentryx from $20.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, June 6th. Zacks Investment Research lowered ChemoCentryx from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Raymond James decreased their price objective on ChemoCentryx from $24.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Thursday, June 6th. ValuEngine upgraded ChemoCentryx from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, BidaskClub upgraded ChemoCentryx from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $18.17.

In related news, Director Geoffrey M. Parker sold 12,815 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $12.00, for a total value of $153,780.00. Following the completion of the transaction, the director now owns 85,014 shares in the company, valued at approximately $1,020,168. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in ChemoCentryx by 10.2% in the 4th quarter. Bank of New York Mellon Corp now owns 139,805 shares of the biopharmaceutical company’s stock worth $1,525,000 after purchasing an additional 12,957 shares in the last quarter. Raymond James & Associates acquired a new stake in ChemoCentryx during the 4th quarter worth about $133,000. Dimensional Fund Advisors LP boosted its position in ChemoCentryx by 15.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 632,061 shares of the biopharmaceutical company’s stock worth $6,896,000 after acquiring an additional 84,290 shares during the period. Geode Capital Management LLC boosted its position in ChemoCentryx by 33.0% during the 4th quarter. Geode Capital Management LLC now owns 333,917 shares of the biopharmaceutical company’s stock worth $3,642,000 after acquiring an additional 82,918 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its position in ChemoCentryx by 369.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,804 shares of the biopharmaceutical company’s stock worth $96,000 after acquiring an additional 6,930 shares during the period. Institutional investors and hedge funds own 58.14% of the company’s stock.

NASDAQ CCXI traded down $0.34 during trading on Thursday, reaching $6.47. 30,712 shares of the company’s stock were exchanged, compared to its average volume of 370,616. ChemoCentryx has a fifty-two week low of $6.16 and a fifty-two week high of $14.98. The company has a market capitalization of $391.82 million, a price-to-earnings ratio of -8.75 and a beta of 1.07. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average price of $8.11.

ChemoCentryx (NASDAQ:CCXI) last announced its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.05). The firm had revenue of $7.17 million for the quarter, compared to analyst estimates of $10.08 million. ChemoCentryx had a negative net margin of 144.27% and a negative return on equity of 103.61%. As a group, sell-side analysts expect that ChemoCentryx will post -1.02 earnings per share for the current fiscal year.

About ChemoCentryx

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.

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