6 Days Ago
1 Min Read

CCXI up 109%. A closer look at the stock:

+0.16% 24h

Shares of Chemocentryx Inc (CCXI) are trading 109% higher at a price of $50.5 at the time of this writing. The stock is up on news of a potential acquisition by Amgen.

1. Amgen has agreed to buy ChemoCentryx for $3.7 billion.
2. The deal would add to Amgen''s suite of inflammatory disorder medicines.

Chemocentryx Inc has been trading between a 52-week high of $50.9 and a 52-week low of $13.11. The stock has a market cap of $3.6 Billion.

ChemoCentryx is a biopharmaceutical company developing new medications for inflammatory and autoimmune diseases and cancer. ChemoCentryx targets the chemokine and chemoattractant systems to discover, develop and commercialize orally-administered therapies. ChemoCentryx's lead drug candidate, avacopan (CCX168), successfully completed a pivotal Phase III trial in ANCA-associated vasculitis and a New Drug Application is under review by the U.S. Food and Drug Administration.

As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

Cautious-Virus-2724 - 3 upvotes - source
Holy fuck $CCXI options are up 20k% lmfaooo

BlackpanthaCS32 - 1 upvotes - source
Moved up $5 PUMP : ![img](emote|t5_2th52|4271) Nobody talked about CCXI

vereecjw - 1 upvotes - source
This is why it is gambling. You should have gone all in on CCXI - that was an easy one, not sure how you missed it. But I am sure you got money in on YELL - That one was too obvious.

nationalizm - 0 upvotes - source
Holy shit has anyone seen how much CCXI $40c’s went up? From 0.01 to 10.20 in a day, Literally up 101k%, do those actually pay out if there’s barely any volume on them or open interest? Imagine being a market maker and learning your short is down 100% ![img](emote|t5_2th52|4271)