Chimerix (NASDAQ:CMRX) Shares Gap Up – Time to Buy?

Chimerix, Inc. (NASDAQ:CMRX)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $4.96, but opened at $8.40. Chimerix shares last traded at $8.41, with a volume of 79,423,338 shares.

Wall Street Analysts Forecast Growth

CMRX has been the subject of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $7.00 price target (up previously from $6.00) on shares of Chimerix in a report on Tuesday, February 18th. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Chimerix in a research note on Tuesday, February 18th.

Chimerix Stock Up 69.9 %

The company’s 50 day moving average price is $4.04 and its two-hundred day moving average price is $2.17. The firm has a market cap of $757.71 million, a PE ratio of -8.96 and a beta of 0.32.

Insider Activity at Chimerix

In other Chimerix news, CEO Michael T. Andriole sold 7,370 shares of the business’s 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 completion of 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 filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 20,760 shares of company stock worth $91,175. Insiders own 13.10% of the company’s stock.

Institutional Investors Weigh In On Chimerix

Hedge funds and other institutional investors have recently modified their holdings of the business. Bender Robert & Associates bought a new position in Chimerix in the 4th quarter valued at $37,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Chimerix in the fourth quarter worth about $59,000. Jane Street Group LLC bought a new position in shares of Chimerix in the fourth quarter worth about $62,000. Diadema Partners LP purchased a new position in Chimerix in the 4th quarter worth about $101,000. Finally, Squarepoint Ops LLC bought a new stake in Chimerix during the 4th quarter valued at about $130,000. 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.