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

Chimerix, Inc. (NASDAQ:CMRX) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 1,810,000 shares, a decline of 47.4% from the December 15th total of 3,440,000 shares. Based on an average daily volume of 3,970,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 2.3% of the company’s stock are sold short.

Chimerix Stock Up 1.2 %

Shares of NASDAQ CMRX traded up $0.04 during mid-day trading on Tuesday, hitting $3.35. 2,100,478 shares of the company traded hands, compared to its average volume of 1,505,649. Chimerix has a 1 year low of $0.75 and a 1 year high of $3.80. The stock has a market capitalization of $301.29 million, a price-to-earnings ratio of -3.56 and a beta of 0.36. The business has a 50 day moving average of $2.06 and a two-hundred day moving average of $1.31.

Institutional Investors Weigh In On Chimerix

A number of hedge funds and other institutional investors have recently made changes to their positions in CMRX. Assenagon Asset Management S.A. raised its position in shares of Chimerix by 154.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 817,739 shares of the biopharmaceutical company’s stock valued at $2,846,000 after purchasing an additional 496,823 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Chimerix by 66.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 344,712 shares of the biopharmaceutical company’s stock worth $321,000 after acquiring an additional 138,098 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in 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 acquiring an additional 69,505 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Chimerix in the second quarter valued at about $137,000. 45.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $6.00 target price on shares of Chimerix in a research report on Tuesday, December 10th. HC Wainwright reiterated a “buy” rating and set a $11.00 target price on shares of Chimerix in a research note on Monday, December 30th.

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.