Chimerix (NASDAQ:CMRX) Sets New 12-Month High – Here’s What Happened

Chimerix, Inc. (NASDAQ:CMRX) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $8.47 and last traded at $8.47, with a volume of 1029993 shares trading hands. The stock had previously closed at $8.45.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CMRX. Jefferies Financial Group reiterated a “hold” rating and set a $8.50 price objective (down from $10.00) on shares of Chimerix in a report on Wednesday, March 5th. HC Wainwright reiterated a “neutral” rating and issued a $8.55 target price (down previously from $11.00) on shares of Chimerix in a report on Wednesday, March 5th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $8.55 price objective (up from $7.00) on shares of Chimerix in a research note on Wednesday, March 5th.

Chimerix Trading Up 0.1 %

The company has a market capitalization of $760.86 million, a PE ratio of -9.00 and a beta of 0.32. The business’s 50-day simple moving average is $4.54 and its two-hundred day simple moving average is $2.43.

Insider Activity

In other Chimerix news, CEO Michael T. Andriole sold 7,370 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $4.52, for a total transaction of $33,312.40. Following the sale, the chief executive officer now owns 609,603 shares in the company, valued at $2,755,405.56. This represents a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 corporate insiders.

Hedge Funds Weigh In On Chimerix

Several large investors have recently added to or reduced their stakes in CMRX. Deerfield Management Company L.P. Series C acquired a new stake in Chimerix during the fourth quarter worth about $13,124,000. Rosalind Advisors Inc. acquired a new position in Chimerix during the 4th quarter valued at about $10,614,000. Millennium Management LLC lifted its position in Chimerix by 6.8% in the fourth quarter. Millennium Management LLC now owns 2,557,530 shares of the biopharmaceutical company’s stock worth $8,900,000 after purchasing an additional 161,795 shares during the period. Marshall Wace LLP increased its position in shares of Chimerix by 1,318.5% during the 4th quarter. Marshall Wace LLP now owns 2,213,940 shares of the biopharmaceutical company’s stock valued at $7,705,000 after purchasing an additional 2,057,864 shares during the period. Finally, Boxer Capital Management LLC bought a new position in shares of Chimerix during the 4th quarter valued at about $7,169,000. 45.42% of the stock is currently owned by 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.