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

Equities research analysts at StockNews.com assumed coverage on shares of Chimerix (NASDAQ:CMRX) in a note issued to investors on Saturday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

CMRX has been the subject of a number of other reports. Wedbush reiterated a “neutral” rating and issued a $8.55 target price (up from $7.00) on shares of Chimerix in a report on Wednesday, March 5th. Jefferies Financial Group reiterated a “hold” rating and issued a $8.50 target price (down from $10.00) on shares of Chimerix in a report on Wednesday, March 5th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $8.55 target price (down from $11.00) on shares of Chimerix in a report on Wednesday, March 5th.

Chimerix Price Performance

Shares of CMRX opened at $8.46 on Friday. Chimerix has a 1 year low of $0.75 and a 1 year high of $8.48. The company has a market capitalization of $760.86 million, a price-to-earnings ratio of -9.00 and a beta of 0.32. The business has a 50-day moving average of $4.84 and a 200-day moving average of $2.59.

Insider Activity

In other 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 20,760 shares of company stock worth $91,175 over the last quarter. 13.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chimerix

Hedge funds and other institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. grew its stake in Chimerix by 154.8% in the 4th 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. Palumbo Wealth Management LLC purchased a new stake in shares of Chimerix in the 4th quarter valued at about $221,000. Valeo Financial Advisors LLC raised its holdings in shares of Chimerix by 78.8% in the 4th quarter. Valeo Financial Advisors LLC now owns 146,186 shares of the biopharmaceutical company’s stock valued at $509,000 after acquiring an additional 64,420 shares in the last quarter. Peapod Lane Capital LLC purchased a new position in shares of Chimerix during the 4th quarter valued at about $2,626,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of 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 valued at $321,000 after buying an additional 138,098 shares in the last quarter. 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.