Stock Traders Purchase High Volume of ChemoCentryx Call Options (NASDAQ:CCXI)


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ChemoCentryx, Inc. (NASDAQ:CCXI) saw some unusual options trading activity on Tuesday. Stock traders acquired 5,543 call options on the stock. This represents an increase of approximately 981% compared to the typical volume of 513 call options.

CCXI traded down $23.51 during trading on Tuesday, hitting $25.31. 525,171 shares of the stock were exchanged, compared to its average volume of 491,612. The firm has a market capitalization of $1.77 billion, a P/E ratio of -37.31 and a beta of 1.70. ChemoCentryx has a 1-year low of $44.28 and a 1-year high of $70.29. The stock has a fifty day moving average price of $49.99 and a two-hundred day moving average price of $57.15. The company has a quick ratio of 10.12, a current ratio of 10.12 and a debt-to-equity ratio of 0.05.

ChemoCentryx (NASDAQ:CCXI) last issued its quarterly earnings results on Thursday, April 29th. The biopharmaceutical company reported ($0.43) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.03). ChemoCentryx had a negative return on equity of 17.23% and a negative net margin of 58.10%. Analysts predict that ChemoCentryx will post -0.72 EPS for the current year.

In other news, Treasurer Markus J. Cappel sold 33,092 shares of the company’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $68.43, for a total transaction of $2,264,485.56. Following the transaction, the treasurer now directly owns 91,243 shares of the company’s stock, valued at $6,243,758.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Edwards sold 400 shares of the company’s stock in a transaction dated Tuesday, February 9th. The stock was sold at an average price of $70.04, for a total transaction of $28,016.00. Following the completion of the sale, the director now owns 120,957 shares in the company, valued at approximately $8,471,828.28. The disclosure for this sale can be found here. Insiders sold a total of 53,626 shares of company stock valued at $3,632,810 in the last quarter. 9.30% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in CCXI. BlackRock Inc. grew its position in ChemoCentryx by 7.4% during the 4th quarter. BlackRock Inc. now owns 4,804,697 shares of the biopharmaceutical company’s stock worth $297,507,000 after purchasing an additional 332,263 shares in the last quarter. Avidity Partners Management LP acquired a new stake in shares of ChemoCentryx in the fourth quarter valued at approximately $46,873,000. Artal Group S.A. acquired a new position in ChemoCentryx during the 4th quarter worth $40,248,000. Norges Bank acquired a new stake in shares of ChemoCentryx in the 4th quarter valued at $28,737,000. Finally, Emerald Advisers LLC raised its position in shares of ChemoCentryx by 20.5% during the fourth quarter. Emerald Advisers LLC now owns 463,961 shares of the biopharmaceutical company’s stock worth $28,728,000 after acquiring an additional 78,855 shares during the last quarter. 80.67% of the stock is owned by institutional investors and hedge funds.

Several analysts recently issued reports on CCXI shares. Raymond James raised their target price on ChemoCentryx from $119.00 to $120.00 and gave the stock a “strong-buy” rating in a research note on Monday, March 8th. HC Wainwright upped their price objective on ChemoCentryx from $83.00 to $101.00 and gave the stock a “buy” rating in a research note on Tuesday, March 2nd. Stifel Nicolaus initiated coverage on ChemoCentryx in a research note on Monday, March 8th. They set a “buy” rating and a $93.00 price objective for the company. Finally, TheStreet downgraded shares of ChemoCentryx from a “c-” rating to a “d” rating in a research report on Tuesday, March 2nd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $80.78.

ChemoCentryx Company Profile

ChemoCentryx, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of new medications for inflammatory disorders, autoimmune diseases, and cancer in the United States. It develops Avacopan, an orally administered selective complement 5a receptor inhibitor for the treatment of anti-neutrophil cytoplasmic autoantibody-associated vasculitis; and completed Phase II clinical trial for the treatment of patients with severe hidradenitis suppurativa, as well as patients with complement 3 glomerulopathy.

See Also: Retained Earnings

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