Chimerix (NASDAQ:CMRX) Coverage Initiated at StockNews.com

Research analysts at StockNews.com began coverage on shares of Chimerix (NASDAQ:CMRX) in a research report issued on Monday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

A number of other analysts also recently issued reports on the stock. Wedbush reaffirmed a “neutral” rating and set a $8.55 price objective (up from $7.00) on shares of Chimerix in a report on Wednesday, March 5th. HC Wainwright reaffirmed a “neutral” rating and set a $8.55 price target (down previously from $11.00) on shares of Chimerix in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $8.50 price objective (down from $10.00) on shares of Chimerix in a report on Wednesday, March 5th.

Chimerix Stock Performance

Shares of CMRX opened at $8.50 on Monday. Chimerix has a 12-month low of $0.75 and a 12-month high of $8.53. The company has a market cap of $797.33 million, a PE ratio of -9.04 and a beta of 0.32. The stock has a 50-day moving average price of $5.84 and a 200-day moving average price of $3.12.

Chimerix (NASDAQ:CMRX) last announced its earnings results on Friday, March 21st. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts predict that Chimerix will post -0.99 earnings per share for the current year.

Insiders Place Their Bets

In other Chimerix 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 value of $33,312.40. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 20,760 shares of company stock valued at $91,175 in the last quarter. Insiders own 13.10% of the company’s stock.

Hedge Funds Weigh In On Chimerix

Hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC purchased a new position in Chimerix during the 4th quarter valued at $130,000. Two Sigma Investments LP boosted its stake in shares of Chimerix by 309.1% during the 4th quarter. Two Sigma Investments LP now owns 101,156 shares of the biopharmaceutical company’s stock valued at $352,000 after purchasing an additional 76,430 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of Chimerix during the fourth quarter valued at about $535,000. Millennium Management LLC raised its stake in Chimerix by 6.8% in the fourth quarter. Millennium Management LLC now owns 2,557,530 shares of the biopharmaceutical company’s stock worth $8,900,000 after buying an additional 161,795 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new stake in Chimerix in the fourth quarter worth about $13,124,000. Institutional investors own 45.42% of the company’s stock.

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.