Chimerix (NASDAQ:CMRX) Stock Price Passes Below 200 Day Moving Average - Here's Why

Chimerix, Inc. (NASDAQ:CMRX - Get Free Report)'s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.91 and traded as low as $0.84. Chimerix shares last traded at $0.87, with a volume of 163,138 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CMRX shares. Wedbush reissued an "outperform" rating and set a $6.00 target price on shares of Chimerix in a research note on Tuesday, August 13th. StockNews.com upgraded Chimerix from a "sell" rating to a "hold" rating in a research report on Wednesday, August 21st. Finally, HC Wainwright restated a "buy" rating and issued a $11.00 target price on shares of Chimerix in a research report on Wednesday, August 14th.

Chimerix Stock Performance

The stock has a market cap of $78.19 million, a price-to-earnings ratio of -0.94 and a beta of 1.12. The company's 50 day simple moving average is $0.91 and its 200 day simple moving average is $0.91.

Chimerix (NASDAQ:CMRX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.23) EPS for the quarter, meeting analysts' consensus estimates of ($0.23). The company had revenue of $0.13 million for the quarter, compared to analyst estimates of $1.26 million. During the same quarter in the prior year, the business earned ($0.21) EPS. Sell-side analysts predict that Chimerix, Inc. will post -0.86 EPS for the current year.

Institutional Trading of Chimerix

Hedge funds and other institutional investors have recently modified their holdings of the company. Marquette Asset Management LLC lifted its holdings in Chimerix by 24.3% in the 1st quarter. Marquette Asset Management LLC now owns 116,009 shares of the biopharmaceutical company's stock valued at $123,000 after acquiring an additional 22,709 shares during the last quarter. Koshinski Asset Management Inc. acquired a new stake in Chimerix during the first quarter valued at approximately $42,000. Acadian Asset Management LLC boosted its holdings in Chimerix by 15.5% during the first quarter. Acadian Asset Management LLC now owns 2,174,813 shares of the biopharmaceutical company's stock worth $2,304,000 after buying an additional 291,981 shares in the last quarter. Marshall Wace LLP acquired a new position in Chimerix in the second quarter worth approximately $137,000. Finally, Valeo Financial Advisors LLC increased its holdings in shares of Chimerix by 566.9% in the third quarter. Valeo Financial Advisors LLC now owns 81,766 shares of the biopharmaceutical company's stock valued at $76,000 after buying an additional 69,505 shares in the last quarter. Institutional investors own 45.42% of the company's stock.

Chimerix Company Profile

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.