Chimerix (NASDAQ:CMRX) Sees Unusually-High Trading Volume - Still a Buy?

Shares of Chimerix, Inc. (NASDAQ:CMRX - Get Free Report) saw strong trading volume on Friday . 3,735,715 shares traded hands during trading, an increase of 86% from the previous session's volume of 2,013,024 shares.The stock last traded at $8.43 and had previously closed at $8.43.

Analyst Upgrades and Downgrades

CMRX has been the topic of a number of recent research reports. HC Wainwright reiterated a "neutral" rating and issued a $8.55 target price (down from $11.00) on shares of Chimerix in a research note on Wednesday, March 5th. Jefferies Financial Group reiterated a "hold" rating and issued a $8.50 price objective (down from $10.00) on shares of Chimerix in a research report on Wednesday, March 5th. Finally, Wedbush restated a "neutral" rating and issued a $8.55 target price (up previously from $7.00) on shares of Chimerix in a research report on Wednesday, March 5th.

Chimerix Price Performance

The stock has a market cap of $760.41 million, a P/E ratio of -8.99 and a beta of 0.32. The company has a fifty day moving average of $4.34 and a 200 day moving average of $2.32.

Insider Transactions at Chimerix

In related 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 owns 609,603 shares of the company's stock, 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 filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 20,760 shares of company stock valued at $91,175. Corporate insiders own 13.10% of the company's stock.

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Hedge Funds Weigh In On Chimerix

Several large investors have recently made changes to their positions in CMRX. Deerfield Management Company L.P. Series C acquired a new stake in Chimerix during the fourth quarter valued at approximately $13,124,000. Rosalind Advisors Inc. bought a new position in shares of Chimerix in the fourth quarter valued at $10,614,000. Boxer Capital Management LLC bought a new stake in shares of Chimerix during the 4th quarter worth $7,169,000. Marshall Wace LLP grew its holdings in shares of Chimerix by 1,318.5% in the 4th quarter. Marshall Wace LLP now owns 2,213,940 shares of the biopharmaceutical company's stock worth $7,705,000 after acquiring an additional 2,057,864 shares during the last quarter. Finally, Peapod Lane Capital LLC acquired a new stake in shares of Chimerix during the fourth quarter worth $2,626,000. Institutional investors 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.