Chimerix (NASDAQ:CMRX) Sets New 52-Week High – Time to Buy?

Chimerix, Inc. (NASDAQ:CMRX)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $8.52 and last traded at $8.52, with a volume of 191012 shares traded. The stock had previously closed at $8.50.

Analyst Upgrades and Downgrades

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

Chimerix Price Performance

The firm’s 50 day moving average is $5.44 and its 200 day moving average is $2.91. The company has a market cap of $766.70 million, a PE ratio of -9.07 and a beta of 0.32.

Chimerix (NASDAQ:CMRX) last released its quarterly earnings results on Friday, March 21st. The biopharmaceutical company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. The firm had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.31 million. As a group, analysts anticipate that Chimerix, Inc. will post -0.99 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Michael T. Andriole sold 7,370 shares of the business’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 owns 609,603 shares of the company’s stock, valued at approximately $2,755,405.56. The trade was a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 20,760 shares of company stock worth $91,175 in the last ninety days. 13.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chimerix

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bender Robert & Associates bought a new position in shares of Chimerix in the 4th quarter worth $37,000. Susquehanna Fundamental Investments LLC purchased a new position in Chimerix in the fourth quarter worth $59,000. Jane Street Group LLC bought a new position in Chimerix in the fourth quarter valued at $62,000. Diadema Partners LP purchased a new stake in Chimerix during the fourth quarter valued at about $101,000. Finally, Squarepoint Ops LLC bought a new stake in Chimerix during the fourth quarter worth about $130,000. 45.42% of the stock is owned by hedge funds and other institutional investors.

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.