Chimerix (NASDAQ:CMRX) Hits New 52-Week High - Here's What Happened

Shares of Chimerix, Inc. (NASDAQ:CMRX - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $8.53 and last traded at $8.53, with a volume of 330093 shares trading hands. The stock had previously closed at $8.50.

Analyst Ratings Changes

Several brokerages have weighed in on CMRX. Jefferies Financial Group reaffirmed a "hold" rating and issued a $8.50 price objective (down from $10.00) on shares of Chimerix in a report on Wednesday, March 5th. StockNews.com started coverage on shares of Chimerix in a research report on Monday, March 31st. They set a "hold" rating for the company. HC Wainwright restated a "neutral" rating and issued a $8.55 target price (down from $11.00) on shares of Chimerix in a research report on Wednesday, March 5th. Finally, Wedbush reiterated 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, March 5th.

Chimerix Trading Down 0.1 %

The business's 50 day moving average price is $6.32 and its two-hundred day moving average price is $3.39. The company has a market capitalization of $799.21 million, a price-to-earnings ratio of -9.06 and a beta of -0.18.

Chimerix (NASDAQ:CMRX - Get Free Report) last announced its quarterly earnings results on Friday, March 21st. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.01. The company had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.31 million. Analysts expect that Chimerix, Inc. will post -0.99 EPS for the current year.

Insider Activity at Chimerix

In other news, CEO Michael T. Andriole sold 7,370 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 609,603 shares in the company, valued at $2,755,405.56. This trade represents a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 20,760 shares of company stock worth $91,175 in the last quarter. 13.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bender Robert & Associates acquired a new position in Chimerix in the fourth quarter valued at $37,000. Susquehanna Fundamental Investments LLC acquired a new stake in Chimerix during the fourth quarter worth approximately $59,000. Jane Street Group LLC bought a new stake in Chimerix in the fourth quarter worth approximately $62,000. Diadema Partners LP bought a new position in shares of Chimerix during the 4th quarter worth approximately $101,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Chimerix during the 4th quarter worth approximately $130,000. Institutional investors and hedge funds 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.