Chimerix (NASDAQ:CMRX) Reaches New 52-Week High - Here's Why

Chimerix, Inc. (NASDAQ:CMRX - Get Free Report)'s share price hit a new 52-week high on Tuesday . The stock traded as high as $8.52 and last traded at $8.52, with a volume of 191012 shares. The stock had previously closed at $8.50.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CMRX. Wedbush reaffirmed a "neutral" rating and issued a $8.55 price target (up previously from $7.00) on shares of Chimerix in a report on Wednesday, March 5th. StockNews.com initiated coverage on Chimerix in a report on Sunday, March 23rd. They set a "hold" rating on the stock. Jefferies Financial Group reissued a "hold" rating and issued a $8.50 price objective (down previously from $10.00) on shares of Chimerix in a report on Wednesday, March 5th. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $8.55 target price (down from $11.00) on shares of Chimerix in a research note on Wednesday, March 5th.

Chimerix Stock Performance

The business's 50 day moving average price is $5.84 and its 200-day moving average price is $3.09. The firm has a market capitalization of $797.33 million, a PE ratio of -9.04 and a beta of 0.32.

Chimerix (NASDAQ:CMRX - Get Free Report) last released its quarterly earnings results on Friday, March 21st. The biopharmaceutical company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.01. The firm had revenue of $0.06 million for the quarter, compared to analysts' expectations of $0.31 million. As a group, analysts anticipate that Chimerix, Inc. will post -0.99 earnings per share for the current year.

Insider Activity

In related news, CEO Michael T. Andriole sold 7,370 shares of the firm's stock in a transaction that occurred 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 20,760 shares of company stock worth $91,175. 13.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chimerix

Large investors have recently bought and sold shares of the business. Bender Robert & Associates purchased a new position in shares of Chimerix in the 4th quarter valued at about $37,000. Susquehanna Fundamental Investments LLC acquired a new stake in Chimerix during the fourth quarter worth approximately $59,000. Jane Street Group LLC purchased a new stake in shares of Chimerix during the 4th quarter worth approximately $62,000. Diadema Partners LP purchased a new position in shares of Chimerix in the 4th quarter valued at $101,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Chimerix in the 4th quarter valued at $130,000. Hedge funds and other 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.