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

Chimerix, Inc. (NASDAQ:CMRX)’s stock price hit a new 52-week high during mid-day 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 Ratings Changes

A number of equities research analysts recently commented 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 report on Wednesday, March 5th. HC Wainwright reiterated a “neutral” rating and issued a $8.55 price objective (down previously from $11.00) 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. Finally, StockNews.com started coverage on shares of Chimerix in a report on Monday. They issued a “hold” rating on the stock.

Chimerix Stock Performance

The business’s 50 day moving average price is $6.04 and its 200 day moving average price is $3.23. The firm has a market cap of $799.68 million, a price-to-earnings 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) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. The business had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.31 million. Sell-side analysts anticipate that Chimerix, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Chimerix

In other Chimerix news, CEO Michael T. Andriole sold 7,370 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 609,603 shares of the company’s stock, valued at $2,755,405.56. This trade represents a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 20,760 shares of company stock valued at $91,175. Company insiders own 13.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CMRX. Stoneridge Investment Partners LLC raised its holdings in shares of Chimerix by 22.5% during 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 during the last quarter. Bender Robert & Associates purchased a new stake in shares of Chimerix during the fourth quarter worth approximately $37,000. Susquehanna Fundamental Investments LLC purchased a new position in Chimerix in the 4th quarter valued at $59,000. Jane Street Group LLC acquired a new stake in Chimerix during the 4th quarter worth $62,000. Finally, Diadema Partners LP purchased a new stake in shares of Chimerix during the fourth quarter worth $101,000. Institutional investors and hedge funds 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.