ChemoCentryx, Inc. (NASDAQ:CCXI) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of ChemoCentryx, Inc. (NASDAQ:CCXI) from a buy rating to a sell rating in a research note issued to investors on Friday.

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According to Zacks, “ChemoCentryx, Inc. is a biopharmaceutical company focused on discovering, developing and commercializing orally-administered therapeutics to treat autoimmune diseases, inflammatory disorders and cancer. ChemoCentryx, Inc. is headquartered in Mountain View, California. “

A number of other equities research analysts have also issued reports on CCXI. Cowen and Company reaffirmed a hold rating on shares of ChemoCentryx in a report on Tuesday. BidaskClub lowered shares of ChemoCentryx from a strong-buy rating to a buy rating in a report on Thursday.

Shares of ChemoCentryx (CCXI) traded down 2.83% during midday trading on Friday, reaching $7.20. 453,172 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $9.58 and its 200 day moving average price is $7.71. ChemoCentryx has a one year low of $4.17 and a one year high of $10.80. The firm’s market capitalization is $350.68 million.

ChemoCentryx (NASDAQ:CCXI) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.02. The business had revenue of $8.94 million for the quarter. On average, equities research analysts expect that ChemoCentryx will post ($0.90) earnings per share for the current fiscal year.

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In other ChemoCentryx news, insider Petrus Bekker sold 19,877 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $9.30, for a total transaction of $184,856.10. Following the completion of the sale, the insider now directly owns 79,426 shares of the company’s stock, valued at approximately $738,661.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 223,649 shares of company stock valued at $2,157,360. Insiders own 26.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CCXI. Vanguard Group Inc. increased its position in ChemoCentryx by 1.1% in the second quarter. Vanguard Group Inc. now owns 1,212,074 shares of the biopharmaceutical company’s stock worth $11,345,000 after buying an additional 13,344 shares in the last quarter. Acadian Asset Management LLC increased its position in ChemoCentryx by 3.7% in the second quarter. Acadian Asset Management LLC now owns 885,442 shares of the biopharmaceutical company’s stock worth $8,287,000 after buying an additional 31,724 shares in the last quarter. Renaissance Technologies LLC increased its position in ChemoCentryx by 31.0% in the first quarter. Renaissance Technologies LLC now owns 616,581 shares of the biopharmaceutical company’s stock worth $4,489,000 after buying an additional 146,000 shares in the last quarter. Northern Trust Corp increased its position in ChemoCentryx by 9.5% in the second quarter. Northern Trust Corp now owns 276,873 shares of the biopharmaceutical company’s stock worth $2,592,000 after buying an additional 24,134 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in ChemoCentryx by 4.6% in the first quarter. Geode Capital Management LLC now owns 196,708 shares of the biopharmaceutical company’s stock worth $1,432,000 after buying an additional 8,697 shares in the last quarter. Hedge funds and other institutional investors own 49.57% of the company’s stock.

About ChemoCentryx

ChemoCentryx, Inc is a biopharmaceutical company. The Company is engaged in developing new medications targeted at inflammatory disorders, autoimmune diseases and cancer. Each of its drug candidates focuses on a specific chemoattractant receptor that selectively blocks its negative inflammatory or suppressive response, leaving the rest of the immune system intact.

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