Exclusive: Could ChemoCentryx Inc Change Direction After Making 52-Week High?

Exclusive: Could ChemoCentryx Inc Change Direction After Making 52 Week High?

The stock of ChemoCentryx Inc (NASDAQ:CCXI) hit a new 52-week high and has $8.48 target or 8.00% above today’s $7.85 share price. The 9 months bullish chart indicates low risk for the $377.17 million company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $8.48 price target is reached, the company will be worth $30.17M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 92,943 shares traded hands. ChemoCentryx Inc (NASDAQ:CCXI) has risen 216.34% since April 20, 2016 and is uptrending. It has outperformed by 211.79% the S&P500.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 1.03 in 2016 Q2. Its down 0.08, from 1.11 in 2016Q1. The ratio turned negative, as 12 funds sold all ChemoCentryx Inc shares owned while 23 reduced positions. 20 funds bought stakes while 19 increased positions. They now own 22.71 million shares or 5.49% less from 24.03 million shares in 2016Q1.
Geode Cap Mgmt Ltd Liability has 147,922 shares for 0% of their US portfolio. Parametric Port Associates Ltd Liability Co reported 34,422 shares or 0% of all its holdings. California State Teachers Retirement System owns 44,740 shares or 0% of their US portfolio. Geduld E E has 0.15% invested in the company for 25,000 shares. Franklin Inc, a California-based fund reported 2.17 million shares. Moreover, Morgan Stanley has 0% invested in ChemoCentryx Inc (NASDAQ:CCXI) for 55,184 shares. Voya Invest Ltd Liability Corporation holds 13,019 shares or 0% of its portfolio. Savings Bank Of New York Mellon Corp last reported 117,265 shares in the company. Northern Tru reported 227,673 shares or 0% of all its holdings. Mufg Americas Corporation has invested 0% of its portfolio in ChemoCentryx Inc (NASDAQ:CCXI). Moreover, Natl Bank Of Montreal Can has 0% invested in ChemoCentryx Inc (NASDAQ:CCXI) for 32,059 shares. Federated Investors Pa has 1,219 shares for 0% of their US portfolio. Paw Corp holds 150,000 shares or 0.77% of its portfolio. D E Shaw & Co last reported 0% of its portfolio in the stock. Belmont Advsr holds 80,000 shares or 0.34% of its portfolio.

Insider Transactions: Since September 1, 2016, the stock had 0 insider buys, and 3 sales for $311,329 net activity. LUCAS ROGER C sold $24,411 worth of stock. Bekker Petrus sold $266,656 worth of stock or 33,332 shares.

CCXI Company Profile

ChemoCentryx, Inc. (ChemoCentryx), incorporated on November 8, 1996, is a biopharmaceutical company. The Firm is focused on discovering, developing and commercializing orally-administered therapeutics to treat orphan and rare diseases, autoimmune diseases, inflammatory disorders and cancer. It targets the chemoattractant system, which is a network of molecules, including chemokine ligands and their associated receptors, as well as related chemoattractant receptors. Each of its drug candidates is a small molecule designed to target a specific chemokine or chemoattractant receptor, thereby blocking the negative inflammatory or suppressive response driven by that particular receptor, while leaving the rest of the immune system intact. The Company’s pipeline comprises various programs, including orphan and rare diseases, immuno-oncology, chronic kidney disease, and other inflammatory and autoimmune diseases.

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