Chimerix, Inc. (NASDAQ:CMRX) Sees Large Decrease in Short Interest

Chimerix, Inc. (NASDAQ:CMRX) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 710,300 shares, a drop of 53.3% from the October 31st total of 1,520,000 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 197,100 shares, the days-to-cover ratio is currently 3.6 days.

Hedge Funds Weigh In On Chimerix

Institutional investors have recently modified their holdings of the stock. Valeo Financial Advisors LLC grew its stake in shares of Chimerix by 566.9% during the third quarter. Valeo Financial Advisors LLC now owns 81,766 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 69,505 shares during the last quarter. Marshall Wace LLP acquired a new position in Chimerix during the 2nd quarter worth $137,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Chimerix by 66.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 344,712 shares of the biopharmaceutical company’s stock valued at $321,000 after buying an additional 138,098 shares during the last quarter. 45.42% of the stock is owned by institutional investors.

Chimerix Trading Up 0.1 %

Shares of Chimerix stock traded up $0.00 during trading on Thursday, reaching $0.91. The company’s stock had a trading volume of 78,394 shares, compared to its average volume of 347,557. The stock has a 50-day moving average price of $0.91 and a two-hundred day moving average price of $0.91. The stock has a market capitalization of $81.40 million, a P/E ratio of -0.96 and a beta of 1.13. Chimerix has a one year low of $0.75 and a one year high of $1.30.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wedbush restated an “outperform” rating and issued a $6.00 price target on shares of Chimerix in a research report on Monday, November 18th. HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of Chimerix in a report on Monday, November 11th. Finally, StockNews.com upgraded Chimerix from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st.

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.