Chimerix (NASDAQ:CMRX) Shares Gap Up – Still a Buy?

Chimerix, Inc. (NASDAQ:CMRX)’s share price gapped up before the market opened 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 trading hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CMRX shares. Jones Trading upgraded shares of Chimerix to a “hold” rating in a report on Thursday. Jefferies Financial Group restated a “hold” rating and set a $8.50 price objective (down previously from $10.00) on shares of Chimerix in a report on Wednesday. HC Wainwright reiterated a “neutral” rating and issued a $8.55 target price (down previously from $11.00) on shares of Chimerix in a research note on Wednesday. Finally, Wedbush restated a “neutral” rating and set a $8.55 price target (up previously from $7.00) on shares of Chimerix in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.53.

Chimerix Price Performance

The business’s 50 day moving average is $4.14 and its two-hundred day moving average is $2.21. The firm has a market capitalization of $758.16 million, a PE ratio of -8.97 and a beta of 0.32.

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 sale, the chief executive officer now owns 609,603 shares of the company’s stock, valued at approximately $2,755,405.56. This represents a 1.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 20,760 shares of company stock worth $91,175. 13.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chimerix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMRX. Deerfield Management Company L.P. Series C bought a new stake in Chimerix during the 4th quarter valued at $13,124,000. Rosalind Advisors Inc. bought a new stake in Chimerix during the 4th quarter valued at $10,614,000. Boxer Capital Management LLC bought a new stake in Chimerix during the 4th quarter valued at $7,169,000. Marshall Wace LLP raised its holdings in Chimerix by 1,318.5% during 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. Finally, Peapod Lane Capital LLC bought a new stake in Chimerix during the 4th quarter valued at $2,626,000. 45.42% of the stock is currently owned by institutional investors.

Chimerix Company Profile

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.