Chimerix (NASDAQ:CMRX) Reaches New 12-Month High – Here’s Why

Chimerix, Inc. (NASDAQ:CMRX) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $8.48 and last traded at $8.47, with a volume of 1548851 shares. The stock had previously closed at $8.46.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wedbush reaffirmed a “neutral” rating and issued a $8.55 target price (up from $7.00) on shares of Chimerix in a research report on Wednesday, March 5th. StockNews.com started coverage on shares of Chimerix in a report on Saturday. They issued a “hold” rating for the company. HC Wainwright reiterated a “neutral” rating and set a $8.55 target price (down from $11.00) on shares of Chimerix in a report on Wednesday, March 5th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $8.50 price target (down previously from $10.00) on shares of Chimerix in a research note on Wednesday, March 5th.

Chimerix Stock Up 0.1 %

The stock has a 50-day moving average price of $4.94 and a 200 day moving average price of $2.64. The firm has a market capitalization of $761.76 million, a price-to-earnings ratio of -9.01 and a beta of 0.32.

Insiders Place Their Bets

In other news, CEO Michael T. Andriole sold 7,370 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $4.52, for a total transaction of $33,312.40. Following the completion of the transaction, the chief executive officer now directly owns 609,603 shares of the company’s stock, valued at approximately $2,755,405.56. This represents a 1.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 20,760 shares of company stock worth $91,175 in the last 90 days. Corporate insiders own 13.10% of the company’s stock.

Institutional Investors Weigh In On Chimerix

Several institutional investors have recently added to or reduced their stakes in the business. Deerfield Management Company L.P. Series C acquired a new stake in Chimerix during the fourth quarter worth approximately $13,124,000. Rosalind Advisors Inc. acquired a new stake in Chimerix during the 4th quarter worth $10,614,000. Boxer Capital Management LLC purchased a new stake in Chimerix in the fourth quarter valued at $7,169,000. Marshall Wace LLP boosted its stake in Chimerix by 1,318.5% in the fourth quarter. Marshall Wace LLP now owns 2,213,940 shares of the biopharmaceutical company’s stock valued at $7,705,000 after acquiring an additional 2,057,864 shares in the last quarter. Finally, Peapod Lane Capital LLC purchased a new position in shares of Chimerix during the fourth quarter worth about $2,626,000. Hedge funds and other institutional investors own 45.42% of the company’s stock.

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.