Chimerix (NASDAQ:CMRX) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Chimerix, Inc. (NASDAQ:CMRX)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.55 and traded as high as $4.14. Chimerix shares last traded at $4.07, with a volume of 1,033,097 shares trading hands.

Analysts Set New Price Targets

CMRX has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of Chimerix in a report on Monday, December 30th. Wedbush reaffirmed an “outperform” rating and issued a $6.00 target price on shares of Chimerix in a research report on Tuesday, December 10th.

Chimerix Price Performance

The firm has a market capitalization of $366.04 million, a P/E ratio of -4.33 and a beta of 0.36. The business’s 50-day moving average is $2.74 and its 200 day moving average is $1.55.

Chimerix (NASDAQ:CMRX) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.02). The firm had revenue of $0.03 million for the quarter, compared to the consensus estimate of $1.26 million. During the same period last year, the firm posted ($0.27) EPS. Analysts anticipate that Chimerix, Inc. will post -0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Chimerix

Hedge funds and other institutional investors have recently made changes to their positions in the company. Peapod Lane Capital LLC acquired a new stake in shares of Chimerix during the 4th quarter worth approximately $2,626,000. Stoneridge Investment Partners LLC lifted its stake in Chimerix by 22.5% during the fourth quarter. Stoneridge Investment Partners LLC now owns 44,305 shares of the biopharmaceutical company’s stock worth $154,000 after purchasing an additional 8,134 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Chimerix by 154.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 817,739 shares of the biopharmaceutical company’s stock valued at $2,846,000 after purchasing an additional 496,823 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Chimerix by 66.8% in the 3rd 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 last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in shares of Chimerix by 566.9% during the 3rd quarter. Valeo Financial Advisors LLC now owns 81,766 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 69,505 shares in the last quarter. 45.42% of the stock is currently owned by institutional investors and hedge funds.

About Chimerix

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.