Chimerix (NASDAQ:CMRX) Hits New 12-Month High – What’s Next?

Chimerix, Inc. (NASDAQ:CMRX) shares hit a new 52-week high during trading on Thursday . The company traded as high as $8.47 and last traded at $8.46, with a volume of 118514429 shares changing hands. The stock had previously closed at $4.96.

Analysts Set New Price Targets

CMRX has been the topic of a number of recent analyst reports. Wedbush reiterated a “neutral” rating and set a $8.55 price target (up from $7.00) on shares of Chimerix in a report on Wednesday. HC Wainwright reissued a “neutral” rating and issued a $8.55 price target (down from $11.00) on shares of Chimerix in a report on Wednesday. Finally, Jefferies Financial Group restated a “hold” rating and set a $8.50 price objective (down previously from $10.00) on shares of Chimerix in a report on Wednesday.

Chimerix Stock Up 70.6 %

The firm has a market capitalization of $760.86 million, a PE ratio of -9.00 and a beta of 0.32. The stock has a 50-day simple moving average of $4.04 and a 200-day simple moving average of $2.17.

Insider Transactions at Chimerix

In other news, CEO Michael T. Andriole sold 7,370 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $4.52, for a total value of $33,312.40. Following the sale, the chief executive officer now owns 609,603 shares of the company’s stock, valued at $2,755,405.56. The trade was a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 20,760 shares of company stock worth $91,175. 13.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Deerfield Management Company L.P. Series C bought a new position in shares of Chimerix in the fourth quarter worth $13,124,000. Rosalind Advisors Inc. purchased a new position in Chimerix during the 4th quarter valued at about $10,614,000. Millennium Management LLC increased its position in shares of Chimerix by 6.8% during the fourth quarter. Millennium Management LLC now owns 2,557,530 shares of the biopharmaceutical company’s stock valued at $8,900,000 after buying an additional 161,795 shares during the period. Marshall Wace LLP lifted its holdings in shares of Chimerix by 1,318.5% in the fourth quarter. Marshall Wace LLP now owns 2,213,940 shares of the biopharmaceutical company’s stock worth $7,705,000 after buying an additional 2,057,864 shares in the last quarter. Finally, Boxer Capital Management LLC bought a new position in shares of Chimerix in the fourth quarter valued at approximately $7,169,000. 45.42% of the stock is currently owned by hedge funds and other institutional investors.

Chimerix Company Profile

Chimerix, Inc, a biopharmaceutical company, develops medicines to improve and extend the lives of patients facing deadly diseases. Its pipeline products include ONC201 a program that is in Phase 3 clinical trial for treating patients with H3 K27M-mutant diffuse glioma, as well as in Phase 2 clinical trial for the treatment of rare neuroendocrine tumors; and ONC206, an imipridone, Dopamine Receptor D2 (DRD2) antagonist, and caseinolytic protease P (ClpP) agonist, which is in Phase 1 clinical trial for adult and pediatric patients with primary central nervous system tumors.