Chimerix (NASDAQ:CMRX) Hits New 1-Year High – Here’s Why

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

Wall Street Analyst Weigh In

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

Chimerix Stock Performance

The stock has a market capitalization of $764.46 million, a P/E ratio of -9.04 and a beta of 0.32. The firm’s 50-day simple moving average is $5.65 and its 200 day simple moving average is $3.00.

Chimerix (NASDAQ:CMRX) last announced its quarterly earnings data on Friday, March 21st. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. The company had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.31 million. As a group, research analysts expect that Chimerix, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Chimerix

In other news, CEO Michael T. Andriole sold 7,370 shares of the 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 transaction, the chief executive officer now owns 609,603 shares in the company, valued at approximately $2,755,405.56. This trade represents a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 20,760 shares of company stock worth $91,175 over the last 90 days. Company insiders own 13.10% of the company’s stock.

Institutional Investors Weigh In On Chimerix

Large investors have recently added to or reduced their stakes in the stock. Bender Robert & Associates bought a new stake in shares of Chimerix during the 4th quarter worth approximately $37,000. Susquehanna Fundamental Investments LLC bought a new stake in Chimerix during the fourth quarter worth $59,000. Jane Street Group LLC acquired a new stake in shares of Chimerix in the 4th quarter valued at $62,000. Diadema Partners LP bought a new position in shares of Chimerix in the 4th quarter valued at $101,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Chimerix during the 4th quarter worth $130,000. 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.