StockNews.com Initiates Coverage on Chimerix (NASDAQ:CMRX)

Equities researchers at StockNews.com started coverage on shares of Chimerix (NASDAQ:CMRX) in a research report issued on Saturday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

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

Chimerix Price Performance

Shares of CMRX opened at $8.54 on Friday. Chimerix has a fifty-two week low of $0.75 and a fifty-two week high of $8.55. The company’s fifty day moving average is $8.51 and its two-hundred day moving average is $4.82. The firm has a market cap of $801.09 million, a PE ratio of -9.09 and a beta of -0.17.

Chimerix (NASDAQ:CMRX) last issued its earnings results on Friday, March 21st. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.01. The firm had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.31 million. As a group, equities research analysts anticipate that Chimerix will post -0.99 earnings per share for the current year.

Insider Activity at Chimerix

In other Chimerix news, CEO Michael T. Andriole sold 7,370 shares of the business’s stock in a transaction dated 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 $2,755,405.56. The trade was a 1.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 14,595 shares of company stock worth $65,889. Corporate insiders own 13.10% of the company’s stock.

Institutional Investors Weigh In On Chimerix

Several hedge funds have recently modified their holdings of CMRX. Deerfield Management Company L.P. Series C acquired a new position in shares of Chimerix during the fourth quarter worth $13,124,000. Rosalind Advisors Inc. purchased a new stake in Chimerix during the 4th quarter worth $10,614,000. Alpine Associates Management Inc. purchased a new stake in Chimerix during the 1st quarter worth $23,676,000. Millennium Management LLC lifted its holdings in Chimerix by 6.8% in the 4th 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, Marshall Wace LLP boosted its position in Chimerix by 1,318.5% in the 4th quarter. Marshall Wace LLP now owns 2,213,940 shares of the biopharmaceutical company’s stock valued at $7,705,000 after buying an additional 2,057,864 shares during the last quarter. 45.42% of the stock is currently owned by hedge funds and other institutional investors.

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.