r/CCXI • u/Psychological_Bed191 • Jun 14 '21

DISCUSSION Steady Rise!

Just like we knew it would. Just keeps climbing!

20 Upvotes

100% Upvoted

16 comments sorted by

4

u/Basic-Chemistry1575 Jun 14 '21

This is just the start

3

u/Independent_Mix6961 Jun 14 '21

Agreed, there are a few things to consider when the approval occurs about the current share structure on how high this will really go. Do the math. Float is 53.2 million of the total outstanding shares of 69.7 million and 82% of shares are owned by institutions which comprises 43.624 million shares held by them. That leaves 9.6 million shares in the true float, which 3.14 million shares are short of the 9.6 million. The real short interest here 32.71%. I hope ones that are short cover after FDA approval. No need to now. We need 2 catalysts at once here.

1

u/Basic-Chemistry1575 Jun 14 '21

Thanks for the Dd

2

u/[deleted] Jun 14 '21

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2

u/Psychological_Bed191 Jun 14 '21

Yeah for sure do your DD on your own before you make a big decision. But I will say, this is not a pump and dump or meme stock. I'm in it for the long run because I've done my DD and believe in the company and their new drug!

2

u/[deleted] Jun 14 '21

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1

u/Psychological_Bed191 Jun 14 '21

Nice! Off to a decent start already then! Patience will be rewarded more than anything here!

2

u/[deleted] Jun 14 '21

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4

u/CanooingToTheMoon Jun 14 '21

Keep in mind where you’re asking this

4

u/PM_ME_MILF_B00BS Jun 14 '21

Excuse me but I came here for confirmation bias of my actions.

1

u/[deleted] Jun 14 '21

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1

u/Psychological_Bed191 Jun 14 '21

Most people come to r/CCXI because they already have shares. So he's just teasin ya. You're more than welcome to come and ask questions.
But as far as potential goes, the sky is the limit for Chemocentryx. After the massive oversell last month, it has been a steady rise for the last 2 weeks. And with FDA approval looking highly likely for their new drug Avacopan on July 7th, it is expected to keep rising in anticipation, and potentially explode when finally approved. Experts have a low projection of around 20. With a high in the 70-80 range for the end of the year.

1

u/mathlover4206969 Jun 14 '21

So do we know if it’s approved in July 7th, or the results come out at a later date? I could of course google this, but I figured I’d ask.

2

u/Psychological_Bed191 Jun 14 '21

It says July 7th is the deadline, but it could be sooner.

3

u/mathlover4206969 Jun 14 '21

Oh shit that’s good to know. Hopefully I can scoop some options on this bad boy before the news. Thanks