Chimerix (NASDAQ:CMRX) Share Price Passes Above 200-Day Moving Average – What’s Next?

Chimerix, Inc. (NASDAQ:CMRX) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.93 and traded as high as $0.93. Chimerix shares last traded at $0.92, with a volume of 44,426 shares traded.

Analyst Upgrades and Downgrades

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

Chimerix Stock Up 1.8 %

The stock has a market cap of $82.12 million, a P/E ratio of -0.99 and a beta of 1.12. The business has a 50 day moving average price of $0.90 and a two-hundred day moving average price of $0.93.

Chimerix (NASDAQ:CMRX) last released its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.23). The firm had revenue of $0.13 million during the quarter, compared to analyst estimates of $1.26 million. Chimerix had a negative return on equity of 46.35% and a negative net margin of 25,337.96%. During the same quarter in the prior year, the company posted ($0.21) earnings per share. On average, research analysts forecast that Chimerix, Inc. will post -0.86 earnings per share for the current year.

Hedge Funds Weigh In On Chimerix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marquette Asset Management LLC boosted its stake in Chimerix by 24.3% during the first quarter. Marquette Asset Management LLC now owns 116,009 shares of the biopharmaceutical company’s stock valued at $123,000 after buying an additional 22,709 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in Chimerix during the first quarter valued at approximately $42,000. Pale Fire Capital SE boosted its stake in Chimerix by 113.6% during the fourth quarter. Pale Fire Capital SE now owns 211,214 shares of the biopharmaceutical company’s stock valued at $203,000 after buying an additional 112,318 shares during the last quarter. Marshall Wace LLP bought a new position in Chimerix during the second quarter valued at approximately $137,000. Finally, Acadian Asset Management LLC boosted its stake 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 valued at $2,304,000 after buying an additional 291,981 shares during the last quarter. 45.42% of the stock is owned by institutional investors.

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.