Chimerix, Inc. (NASDAQ:CMRX) Sees Significant Decline in Short Interest

Chimerix, Inc. (NASDAQ:CMRX) was the target of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 647,700 shares, a decline of 8.8% from the November 15th total of 710,300 shares. Based on an average trading volume of 3,280,000 shares, the short-interest ratio is presently 0.2 days. Currently, 0.8% of the company’s shares are short sold.

Chimerix Price Performance

Shares of NASDAQ:CMRX traded up $0.01 during midday trading on Tuesday, reaching $2.92. 1,179,873 shares of the company’s stock were exchanged, compared to its average volume of 1,253,530. The stock has a market cap of $262.61 million, a price-to-earnings ratio of -3.10 and a beta of 1.02. Chimerix has a fifty-two week low of $0.75 and a fifty-two week high of $3.39. The firm’s 50 day simple moving average is $1.11 and its two-hundred day simple moving average is $0.97.

Institutional Investors Weigh In On Chimerix

A number of institutional investors and hedge funds have recently made changes to their positions in CMRX. Marshall Wace LLP acquired a new stake in Chimerix in the 2nd quarter valued at approximately $137,000. Valeo Financial Advisors LLC grew its stake in shares of Chimerix by 566.9% in the third quarter. Valeo Financial Advisors LLC now owns 81,766 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 69,505 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Chimerix by 66.8% in 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 during the period. 45.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on CMRX. HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of Chimerix in a report on Wednesday, December 11th. StockNews.com raised shares of Chimerix from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, Wedbush reaffirmed an “outperform” rating and set a $6.00 price target on shares of Chimerix in a research report on Tuesday, December 10th.

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.