Chimerix (NASDAQ:CMRX) Sets New 1-Year High – Here’s What Happened

Chimerix, Inc. (NASDAQ:CMRX) reached a new 52-week high during trading on Wednesday . The stock traded as high as $8.53 and last traded at $8.53, with a volume of 330093 shares. The stock had previously closed at $8.50.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. HC Wainwright reissued a “neutral” rating and issued a $8.55 price objective (down previously from $11.00) on shares of Chimerix in a report on Wednesday, March 5th. Wedbush restated a “neutral” rating and set a $8.55 price target (up previously from $7.00) on shares of Chimerix in a report on Wednesday, March 5th. Jefferies Financial Group reaffirmed a “hold” rating and set a $8.50 price target (down previously from $10.00) on shares of Chimerix in a research report on Wednesday, March 5th. Finally, StockNews.com began coverage on Chimerix in a research report on Monday. They issued a “hold” rating for the company.

Chimerix Price Performance

The company’s 50 day simple moving average is $6.04 and its two-hundred day simple moving average is $3.23. The company has a market cap of $799.68 million, a PE ratio of -9.07 and a beta of 0.32.

Chimerix (NASDAQ:CMRX) last posted its earnings results on Friday, March 21st. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.01. The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.31 million. Sell-side analysts expect that Chimerix, Inc. will post -0.99 EPS for the current fiscal year.

Insider Activity at Chimerix

In related news, CEO Michael T. Andriole sold 7,370 shares of the company’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 transaction of $33,312.40. Following the sale, the chief executive officer now directly owns 609,603 shares of the company’s stock, valued at $2,755,405.56. This represents a 1.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 20,760 shares of company stock worth $91,175. 13.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chimerix

Several institutional investors have recently modified their holdings of CMRX. Stoneridge Investment Partners LLC raised its stake in shares of Chimerix by 22.5% in the fourth quarter. Stoneridge Investment Partners LLC now owns 44,305 shares of the biopharmaceutical company’s stock valued at $154,000 after acquiring an additional 8,134 shares in the last quarter. Bender Robert & Associates purchased a new stake in Chimerix during the 4th quarter worth about $37,000. Susquehanna Fundamental Investments LLC acquired a new stake in Chimerix in the 4th quarter valued at about $59,000. Jane Street Group LLC purchased a new position in shares of Chimerix in the 4th quarter valued at about $62,000. Finally, Diadema Partners LP acquired a new position in shares of Chimerix during the fourth quarter worth about $101,000. Institutional investors and hedge funds own 45.42% of the company’s stock.

About Chimerix

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.