Chimerix (NASDAQ:CMRX) Earns “Outperform” Rating from Wedbush

Chimerix (NASDAQ:CMRX)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a note issued to investors on Tuesday,RTT News reports. They currently have a $7.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $6.00. Wedbush’s price objective indicates a potential upside of 45.26% from the stock’s current price.

Separately, HC Wainwright reissued a “buy” rating and set a $11.00 price target on shares of Chimerix in a report on Tuesday.

Chimerix Trading Up 10.0 %

CMRX stock traded up $0.44 during mid-day trading on Tuesday, hitting $4.82. 4,620,432 shares of the company were exchanged, compared to its average volume of 1,563,470. Chimerix has a 1-year low of $0.75 and a 1-year high of $5.15. The stock has a market capitalization of $433.42 million, a PE ratio of -5.13 and a beta of 0.35. The business has a 50 day simple moving average of $3.64 and a 200-day simple moving average of $1.88.

Insider Buying and Selling

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 transaction of $33,312.40. Following the transaction, the chief executive officer now owns 609,603 shares in the company, valued at $2,755,405.56. This represents a 1.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 20,760 shares of company stock valued at $91,175. 13.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chimerix

A number of hedge funds and other institutional investors have recently made changes to their positions in CMRX. Bender Robert & Associates bought a new position in Chimerix during the 4th quarter worth $37,000. Susquehanna Fundamental Investments LLC bought a new stake in Chimerix during the fourth quarter worth about $59,000. Jane Street Group LLC acquired a new stake in shares of Chimerix during the 4th quarter worth approximately $62,000. Diadema Partners LP bought a new position in Chimerix in the fourth quarter valued at approximately $101,000. Finally, Squarepoint Ops LLC acquired a new position in Chimerix during the fourth quarter valued at approximately $130,000. 45.42% of the stock is currently owned by institutional investors and hedge funds.

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.