ChemoCentryx Inc (NASDAQ:CCXI) was the target of a significant drop in short interest in 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. Approximately 11.5% of the company’s stock are sold short. Based on an average trading volume of 511,900 shares, the short-interest ratio is presently 6.9 days.

CCXI has been the topic of several analyst reports. ValuEngine upgraded ChemoCentryx from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. BidaskClub upgraded ChemoCentryx from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 6th. HC Wainwright restated a “buy” rating and issued a $23.00 price target on shares of ChemoCentryx in a research note on Tuesday, May 7th. Raymond James cut their price target on ChemoCentryx from $24.00 to $17.00 and set a “strong-buy” rating on the stock in a research note on Thursday, June 6th. Finally, Canaccord Genuity cut their price target on ChemoCentryx from $20.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $17.71.

In other 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 sale, the director now directly owns 85,014 shares in the company, valued at $1,020,168. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.20% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised 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 valued at $1,525,000 after acquiring an additional 12,957 shares during the period. Raymond James & Associates bought a new stake in ChemoCentryx in the 4th quarter valued at about $133,000. Dimensional Fund Advisors LP raised its stake in ChemoCentryx by 15.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 632,061 shares of the biopharmaceutical company’s stock valued at $6,896,000 after acquiring an additional 84,290 shares during the period. Geode Capital Management LLC raised its stake in ChemoCentryx by 33.0% in the 4th quarter. Geode Capital Management LLC now owns 333,917 shares of the biopharmaceutical company’s stock valued at $3,642,000 after acquiring an additional 82,918 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its stake in ChemoCentryx by 369.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,804 shares of the biopharmaceutical company’s stock valued at $96,000 after acquiring an additional 6,930 shares during the period. Institutional investors own 58.14% of the company’s stock.

ChemoCentryx stock traded down $0.18 during midday trading on Wednesday, reaching $6.84. The company’s stock had a trading volume of 12,416 shares, compared to its average volume of 477,709. ChemoCentryx has a fifty-two week low of $6.16 and a fifty-two week 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. The stock has a market cap of $402.85 million, a P/E ratio of -9.21 and a beta of 1.07. The stock’s 50-day moving average is $8.15.

ChemoCentryx (NASDAQ:CCXI) last posted its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.05). ChemoCentryx had a negative net margin of 144.27% and a negative return on equity of 103.61%. The business had revenue of $7.17 million during the quarter, compared to analyst estimates of $10.08 million. As a group, equities research analysts forecast that ChemoCentryx will post -1.02 earnings per share for the current 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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