Palumbo Wealth Management LLC Makes New Investment in Chimerix, Inc. (NASDAQ:CMRX)

Palumbo Wealth Management LLC purchased a new position in shares of Chimerix, Inc. (NASDAQ:CMRX - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 63,400 shares of the biopharmaceutical company's stock, valued at approximately $221,000. Palumbo Wealth Management LLC owned 0.07% of Chimerix at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in Chimerix by 154.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 817,739 shares of the biopharmaceutical company's stock worth $2,846,000 after buying an additional 496,823 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Chimerix by 66.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 344,712 shares of the biopharmaceutical company's stock worth $321,000 after acquiring an additional 138,098 shares during the period. Peapod Lane Capital LLC acquired a new stake in shares of Chimerix in the 4th quarter worth about $2,626,000. Valeo Financial Advisors LLC lifted its position in Chimerix by 78.8% in the 4th quarter. Valeo Financial Advisors LLC now owns 146,186 shares of the biopharmaceutical company's stock valued at $509,000 after purchasing an additional 64,420 shares during the last quarter. Finally, Stoneridge Investment Partners LLC boosted its stake in Chimerix by 22.5% during the 4th quarter. Stoneridge Investment Partners LLC now owns 44,305 shares of the biopharmaceutical company's stock valued at $154,000 after purchasing an additional 8,134 shares during the period. Institutional investors own 45.42% of the company's stock.

Insider Activity 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. Insiders have sold 20,760 shares of company stock worth $91,175 over the last quarter. 13.10% of the stock is currently owned by company insiders.

Chimerix Stock Up 5.2 %

Chimerix stock traded up $0.25 during trading hours on Wednesday, hitting $5.08. 4,448,538 shares of the company traded hands, compared to its average volume of 1,653,945. Chimerix, Inc. has a 1-year low of $0.75 and a 1-year high of $5.53. The firm has a market cap of $456.90 million, a P/E ratio of -5.40 and a beta of 0.35. The firm's 50-day simple moving average is $3.68 and its two-hundred day simple moving average is $1.90.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CMRX shares. HC Wainwright restated a "buy" rating and issued a $11.00 price target on shares of Chimerix in a research note on Tuesday. Wedbush restated an "outperform" rating and issued a $7.00 target price (up from $6.00) on shares of Chimerix in a research report on Tuesday.

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.