GW&K Investment Management LLC Purchases New Position in ChemoCentryx, Inc. (NASDAQ:CCXI)

GW&K Investment Management LLC purchased a new stake in ChemoCentryx, Inc. (NASDAQ:CCXIGet Rating) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 652,196 shares of the biopharmaceutical company’s stock, valued at approximately $23,746,000. GW&K Investment Management LLC owned approximately 0.93% of ChemoCentryx as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CCXI. Total Clarity Wealth Management Inc. acquired a new stake in shares of ChemoCentryx in the fourth quarter valued at approximately $29,000. CWM LLC purchased a new stake in shares of ChemoCentryx during the fourth quarter worth approximately $37,000. UMB Bank N A MO purchased a new stake in shares of ChemoCentryx during the fourth quarter worth approximately $37,000. Paragon Capital Management Ltd purchased a new stake in shares of ChemoCentryx during the fourth quarter worth approximately $42,000. Finally, US Bancorp DE raised its stake in shares of ChemoCentryx by 57.1% during the third quarter. US Bancorp DE now owns 3,083 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 1,121 shares during the last quarter. 82.28% of the stock is owned by hedge funds and other institutional investors.

ChemoCentryx stock traded up $0.74 during trading hours on Friday, hitting $22.79. The stock had a trading volume of 1,941,201 shares, compared to its average volume of 1,948,193. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.11 and a quick ratio of 5.07. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -11.34 and a beta of 1.96. ChemoCentryx, Inc. has a 1-year low of $9.53 and a 1-year high of $42.16. The stock’s fifty day moving average is $21.56 and its two-hundred day moving average is $28.78.

ChemoCentryx (NASDAQ:CCXIGet Rating) last posted its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.24). ChemoCentryx had a negative net margin of 514.64% and a negative return on equity of 47.24%. During the same period last year, the business posted ($0.43) earnings per share. As a group, sell-side analysts anticipate that ChemoCentryx, Inc. will post -1.91 EPS for the current year.

Several research firms have recently commented on CCXI. Stifel Nicolaus restated a “buy” rating and set a $85.00 price target on shares of ChemoCentryx in a research note on Friday, March 18th. StockNews.com initiated coverage on ChemoCentryx in a research report on Thursday, March 31st. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $73.43.

About ChemoCentryx (Get Rating)

ChemoCentryx, Inc, a biopharmaceutical company, focuses on the development and commercialization of new medications for inflammatory disorders, autoimmune diseases, and cancer in the United States. It offers TAVNEOS (avacopan), an orally administered selective C5aR inhibitor for the treatment of adult patients with severe active anti-neutrophil cytoplasmic autoantibody-associated vasculitis.

Further Reading

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Institutional Ownership by Quarter for ChemoCentryx (NASDAQ:CCXI)

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