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

Chimerix, Inc. (NASDAQ:CMRX - Get Free Report) saw a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 647,700 shares, a decrease of 8.8% from the November 15th total of 710,300 shares. Based on an average daily volume of 3,280,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.8% of the shares of the company are sold short.

Hedge Funds Weigh In On Chimerix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Chimerix by 66.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 344,712 shares of the biopharmaceutical company's stock worth $321,000 after purchasing an additional 138,098 shares during the period. Valeo Financial Advisors LLC grew its stake in Chimerix by 566.9% during the third quarter. Valeo Financial Advisors LLC now owns 81,766 shares of the biopharmaceutical company's stock worth $76,000 after buying an additional 69,505 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Chimerix in the 2nd quarter valued at about $137,000. 45.42% of the stock is owned by institutional investors and hedge funds.

Chimerix Stock Performance

Shares of CMRX stock traded down $0.04 during trading on Monday, hitting $2.91. The company had a trading volume of 1,555,359 shares, compared to its average volume of 1,253,960. The firm has a market capitalization of $261.73 million, a P/E ratio of -3.10 and a beta of 1.02. Chimerix has a one year low of $0.75 and a one year high of $3.39. The stock's 50-day moving average price is $1.11 and its 200 day moving average price is $0.97.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. HC Wainwright reissued a "buy" rating and set a $11.00 price target 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 report on Wednesday, August 21st. Finally, Wedbush restated an "outperform" rating and issued a $6.00 price target on shares of Chimerix in a research note 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.

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