Chimerix (NASDAQ:CMRX) Sees Large Volume Increase – Should You Buy?

Chimerix, Inc. (NASDAQ:CMRX) shares 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 subject of several research reports. Wedbush restated a “neutral” rating and issued a $8.55 target price (up from $7.00) on shares of Chimerix in a research note on Wednesday. HC Wainwright reissued a “neutral” rating and issued a $8.55 price objective (down previously from $11.00) on shares of Chimerix in a research note on Wednesday. Finally, Jefferies Financial Group reaffirmed 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 Trading Down 0.1 %

The firm has a market cap of $757.71 million, a P/E ratio of -8.96 and a beta of 0.32. The company’s 50-day moving average is $4.24 and its two-hundred day moving average is $2.26.

Insider Activity

In related news, CEO Michael T. Andriole sold 7,370 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 609,603 shares in the company, valued at approximately $2,755,405.56. This represents a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 20,760 shares of company stock worth $91,175 over the last 90 days. 13.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Chimerix

Several institutional investors have recently made changes to their positions in CMRX. Deerfield Management Company L.P. Series C bought a new position in shares of Chimerix during the fourth quarter valued at about $13,124,000. Rosalind Advisors Inc. purchased a new stake in Chimerix in the 4th quarter valued at about $10,614,000. Boxer Capital Management LLC purchased a new stake in Chimerix in the 4th quarter valued at about $7,169,000. Marshall Wace LLP lifted its position in shares of Chimerix by 1,318.5% during 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 in the last quarter. Finally, Peapod Lane Capital LLC purchased a new position in shares of Chimerix in the 4th quarter worth approximately $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.