Wedbush Reaffirms “Neutral” Rating for Chimerix (NASDAQ:CMRX)

Wedbush reaffirmed their neutral rating on shares of Chimerix (NASDAQ:CMRX) in a research report report published on Wednesday morning,RTT News reports. The brokerage currently has a $8.55 price target on the biopharmaceutical company’s stock, up from their previous price target of $7.00.

Separately, HC Wainwright reaffirmed a “neutral” rating and issued a $8.55 target price (down previously from $11.00) on shares of Chimerix in a research report on Wednesday.

Chimerix Price Performance

Shares of NASDAQ CMRX opened at $8.46 on Wednesday. Chimerix has a 1-year low of $0.75 and a 1-year high of $8.47. The business has a 50-day moving average of $4.04 and a 200-day moving average of $2.17. The company has a market capitalization of $760.86 million, a price-to-earnings ratio of -9.00 and a beta of 0.32.

Insider Buying and Selling

In other Chimerix news, CEO Michael T. Andriole sold 7,370 shares of the company’s stock in a transaction that occurred 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 20,760 shares of company stock worth $91,175. 13.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Chimerix

Several institutional investors and hedge funds have recently bought and sold shares of the company. Deerfield Management Company L.P. Series C acquired a new stake in Chimerix during the fourth quarter valued at approximately $13,124,000. Rosalind Advisors Inc. acquired a new stake in Chimerix during the fourth quarter valued at approximately $10,614,000. Millennium Management LLC raised its stake in Chimerix by 6.8% during the fourth quarter. Millennium Management LLC now owns 2,557,530 shares of the biopharmaceutical company’s stock valued at $8,900,000 after buying an additional 161,795 shares in the last quarter. Marshall Wace LLP raised its stake in Chimerix by 1,318.5% during the fourth quarter. Marshall Wace LLP now owns 2,213,940 shares of the biopharmaceutical company’s stock valued at $7,705,000 after buying an additional 2,057,864 shares in the last quarter. Finally, Boxer Capital Management LLC acquired a new stake in Chimerix during the fourth quarter valued at approximately $7,169,000. Institutional investors and hedge funds 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.