ChemoCentryx Inc (NASDAQ: CCXI)
ChemoCentryx wasn't off to the best of days in the market today. When the opening bell rang, the stock found itself in the red. Throughout the day, we've seen relatively flat movement. However, minutes ago, our partners at Trade Ideas informed us that the stock has been halted. Below, we'll talk about what we're seeing, why, and what we'll be watching for with regard to CCXI ahead.
What We're Seeing From CCXI
As mentioned above, ChemoCentryx wasn't having the best of days in the trading session today. After starting the day off in the red, the stock traded relatively flat, staying in the red zone. At the moment (12:24), CCXI is trading at $7.94 per share after a loss of $0.08 per share, or 1.00%. However, as mentioned above, news has come down the grapevine that the stock has been halted.
Why This Is Happening
As soon as our partners informed us that CCXI had been halted, the CNA Finance team went to work, looking for the cause. Unfortunately, we haven't been able to find it. There is no fundamental news, no rumors, nothing that we would think would cause a halt.
Nonetheless, there's one thing we do know, ChemoCentryx has been halted with news pending. Any time a stock is halted, the news is going to be big.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CCXI. In particular, we're interested in seeing why the stock has been halted. Nonetheless, we'll keep an eye on the news and update you as we get new information.
UPDATE - We've found the cause for the halt. Vifor Pharma and CCXI have announced an expansion of the Kidney Health Alliance.
UPDATE - CCXI reopens over 7% higher.
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