Chimerix (NASDAQ:CMRX) Shares Gap Up - Should You Buy?

Chimerix, Inc. (NASDAQ:CMRX - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $4.96, but opened at $8.40. Chimerix shares last traded at $8.41, with a volume of 79,423,338 shares trading hands.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wedbush reissued a "neutral" rating and set a $8.55 target price (up from $7.00) on shares of Chimerix in a research report on Wednesday. HC Wainwright reissued a "neutral" rating and set a $8.55 target price (down from $11.00) on shares of Chimerix in a research report on Wednesday. Finally, Jefferies Financial Group reissued a "hold" rating and set a $8.50 target price (down from $10.00) on shares of Chimerix in a research report on Wednesday.

Chimerix Stock Performance

The company has a market capitalization of $758.16 million, a PE ratio of -8.97 and a beta of 0.32. The stock's 50 day moving average is $4.34 and its 200 day moving average is $2.32.

Insiders Place Their Bets

In other Chimerix news, CEO Michael T. Andriole sold 7,370 shares of the 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 directly owns 609,603 shares in the company, valued at $2,755,405.56. This represents a 1.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 20,760 shares of company stock worth $91,175 in the last three months. 13.10% of the stock is currently owned by corporate insiders.

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Institutional Trading of Chimerix

Several institutional investors and hedge funds have recently bought and sold shares of the company. Deerfield Management Company L.P. Series C purchased a new stake in Chimerix in the 4th quarter worth approximately $13,124,000. Rosalind Advisors Inc. purchased a new stake in Chimerix in the 4th quarter worth approximately $10,614,000. Millennium Management LLC increased its holdings in shares of Chimerix by 6.8% in the 4th quarter. Millennium Management LLC now owns 2,557,530 shares of the biopharmaceutical company's stock worth $8,900,000 after buying an additional 161,795 shares during the last quarter. Marshall Wace LLP increased 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 buying an additional 2,057,864 shares during the last quarter. Finally, Boxer Capital Management LLC bought a new position in shares of Chimerix in the 4th quarter worth $7,169,000. 45.42% of the stock is currently owned by hedge funds and other institutional investors.

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.