ChemoCentryx, Inc. (NASDAQ:CCXI) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Friday.

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 research analysts have also issued reports on the stock. Cowen and Company reiterated 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 (NASDAQ:CCXI) traded down 2.83% on Friday, reaching $7.20. 453,172 shares of the company were exchanged. The company’s market cap is $350.68 million. The company’s 50-day moving average price is $9.61 and its 200 day moving average price is $7.71. ChemoCentryx has a 12 month low of $4.06 and a 12 month high of $10.80.

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

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In other ChemoCentryx news, insider Petrus Bekker sold 76,013 shares of the firm’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $9.95, for a total transaction of $756,329.35. Following the completion of the transaction, the insider now owns 65,963 shares in the company, valued at approximately $656,331.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 223,649 shares of company stock valued at $2,157,360. Company insiders own 26.80% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BVF Inc. IL raised its position in ChemoCentryx by 22.5% in the first quarter. BVF Inc. IL now owns 8,182,052 shares of the biopharmaceutical company’s stock valued at $20,373,000 after buying an additional 1,504,330 shares during the last quarter. Franklin Resources Inc. raised its position in ChemoCentryx by 22.4% in the first quarter. Franklin Resources Inc. now owns 2,165,397 shares of the biopharmaceutical company’s stock valued at $5,392,000 after buying an additional 396,900 shares during the last quarter. BlackRock Fund Advisors raised its stake in ChemoCentryx by 2.0% in the first quarter. BlackRock Fund Advisors now owns 1,279,222 shares of the biopharmaceutical company’s stock valued at $3,185,000 after buying an additional 25,382 shares in the last quarter. Vanguard Group Inc. raised its stake in ChemoCentryx by 1.1% in the second quarter. Vanguard Group Inc. now owns 1,212,074 shares of the biopharmaceutical company’s stock valued at $11,345,000 after buying an additional 13,344 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in ChemoCentryx by 1.8% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,102,332 shares of the biopharmaceutical company’s stock valued at $8,929,000 after buying an additional 19,375 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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