Chimerix (NASDAQ:CMRX) Sets New 52-Week High - Should You Buy?

Chimerix, Inc. (NASDAQ:CMRX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $8.54 and last traded at $8.53, with a volume of 192094 shares. The stock had previously closed at $8.52.

Wall Street Analysts Forecast Growth

CMRX has been the subject of several analyst reports. Wedbush reiterated a "neutral" rating and issued a $8.55 target price (up from $7.00) on shares of Chimerix in a research note on Wednesday, March 5th. HC Wainwright reaffirmed a "neutral" rating and set a $8.55 target price (down previously from $11.00) on shares of Chimerix in a research note on Wednesday, March 5th. StockNews.com began coverage on Chimerix in a research note on Tuesday. They set a "hold" rating on the stock. Finally, Jefferies Financial Group restated a "hold" rating and set a $8.50 price target (down previously from $10.00) on shares of Chimerix in a report on Wednesday, March 5th.

Check Out Our Latest Research Report on Chimerix

Chimerix Stock Performance

The stock has a market capitalization of $799.68 million, a PE ratio of -9.07 and a beta of -0.17. The business's 50-day moving average is $6.41 and its two-hundred day moving average is $3.45.

Chimerix (NASDAQ:CMRX - Get Free Report) last issued its quarterly earnings data on Friday, March 21st. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, topping analysts' consensus estimates of ($0.26) by $0.01. The business had revenue of $0.06 million for the quarter, compared to analysts' expectations of $0.31 million. Equities analysts forecast that Chimerix, Inc. will post -0.99 EPS for the current year.

Insider Transactions at Chimerix

In other news, CEO Michael T. Andriole sold 7,370 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $4.52, for a total value of $33,312.40. Following the completion of the transaction, the chief executive officer now directly owns 609,603 shares in the company, valued at approximately $2,755,405.56. This 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 can be accessed through this link. Insiders have sold a total of 20,760 shares of company stock worth $91,175 in the last three months. 13.10% of the stock is currently owned by company insiders.

Institutional Trading of Chimerix

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its holdings in Chimerix by 154.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 817,739 shares of the biopharmaceutical company's stock worth $2,846,000 after buying an additional 496,823 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new position in shares of Chimerix during the 4th quarter worth $183,000. Rosalind Advisors Inc. bought a new position in shares of Chimerix in the fourth quarter valued at approximately $10,614,000. Palumbo Wealth Management LLC bought a new stake in Chimerix during the fourth quarter valued at about $221,000. Finally, Valeo Financial Advisors LLC grew its stake in shares of Chimerix by 78.8% in the fourth quarter. Valeo Financial Advisors LLC now owns 146,186 shares of the biopharmaceutical company's stock worth $509,000 after acquiring an additional 64,420 shares during the last quarter. 45.42% of the stock is currently owned by institutional investors and hedge funds.

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.

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