Chimerix (NASDAQ:CMRX) Share Price Crosses Above 50 Day Moving Average – Should You Sell?

Chimerix, Inc. (NASDAQ:CMRX)’s stock price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $1.82 and traded as high as $3.80. Chimerix shares last traded at $3.54, with a volume of 1,915,300 shares traded.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wedbush reissued an “outperform” rating and set a $6.00 price objective on shares of Chimerix in a research report on Tuesday, December 10th. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of Chimerix in a research note on Monday, December 30th.

Chimerix Stock Performance

The firm has a market cap of $318.37 million, a price-to-earnings ratio of -3.77 and a beta of 0.36. The firm’s 50 day moving average is $1.82 and its 200-day moving average is $1.22.

Institutional Trading of Chimerix

Several large investors have recently made changes to their positions in the stock. Marshall Wace LLP bought a new position in shares of Chimerix in the 2nd quarter valued at approximately $137,000. Valeo Financial Advisors LLC grew its holdings in Chimerix by 566.9% during the third quarter. Valeo Financial Advisors LLC now owns 81,766 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 69,505 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Chimerix by 66.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 344,712 shares of the biopharmaceutical company’s stock valued at $321,000 after purchasing an additional 138,098 shares during the period. 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.