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

Chimerix (NASDAQ:CMRX)‘s stock had its “neutral” rating reiterated by equities researchers at Wedbush in a report issued on Wednesday, MarketBeat Ratings reports. They presently have a $8.55 price target on the biopharmaceutical company’s stock, up from their prior price target of $7.00. Wedbush’s price objective points to a potential upside of 1.42% from the stock’s previous close.

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

Chimerix Stock Performance

NASDAQ CMRX opened at $8.43 on Wednesday. The firm’s fifty day moving average price is $4.14 and its two-hundred day moving average price is $2.21. The stock has a market cap of $758.16 million, a PE ratio of -8.97 and a beta of 0.32. Chimerix has a fifty-two week low of $0.75 and a fifty-two week high of $8.47.

Insider Buying and Selling at Chimerix

In related news, CEO Michael T. Andriole sold 7,370 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $4.52, for a total value of $33,312.40. Following the sale, the chief executive officer now owns 609,603 shares of the company’s stock, valued at $2,755,405.56. The trade was a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 20,760 shares of company stock worth $91,175. 13.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chimerix

A number of institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC bought a new position in shares of Chimerix during the fourth quarter worth about $130,000. Two Sigma Investments LP increased its position in Chimerix by 309.1% during the 4th quarter. Two Sigma Investments LP now owns 101,156 shares of the biopharmaceutical company’s stock valued at $352,000 after purchasing an additional 76,430 shares during the period. OMERS ADMINISTRATION Corp bought a new position in Chimerix during the 4th quarter worth approximately $535,000. Millennium Management LLC lifted its position in shares of Chimerix by 6.8% in the 4th quarter. Millennium Management LLC now owns 2,557,530 shares of the biopharmaceutical company’s stock worth $8,900,000 after purchasing an additional 161,795 shares during the period. Finally, Deerfield Management Company L.P. Series C bought a new stake in shares of Chimerix in the 4th quarter valued at $13,124,000. Institutional investors 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.