Wedbush Reiterates “Outperform” Rating for Chimerix (NASDAQ:CMRX)

Chimerix (NASDAQ:CMRX)‘s stock had its “outperform” rating reiterated by Wedbush in a research report issued on Tuesday,RTT News reports. They presently 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 suggests a potential upside of 45.26% from the stock’s current price.

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

Chimerix Stock Performance

NASDAQ CMRX traded up $0.44 during trading on Tuesday, reaching $4.82. 4,620,432 shares of the company traded hands, compared to its average volume of 1,563,470. The stock’s 50 day moving average price is $3.64 and its two-hundred day moving average price is $1.88. Chimerix has a 1-year low of $0.75 and a 1-year high of $5.15. The company has a market cap of $433.42 million, a price-to-earnings ratio of -5.13 and a beta of 0.35.

Insider Activity at Chimerix

In other Chimerix news, CEO Michael T. Andriole sold 7,370 shares of the firm’s 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 sale, the chief executive officer now directly owns 609,603 shares in the company, valued at approximately $2,755,405.56. This trade represents a 1.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 20,760 shares of company stock worth $91,175 in the last ninety days. Company insiders own 13.10% of the company’s stock.

Institutional Trading of Chimerix

Institutional investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. grew its position in 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 in the last quarter. Assenagon Asset Management S.A. grew 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 acquiring an additional 496,823 shares in the last quarter. Stoneridge Investment Partners LLC increased its position in shares of Chimerix by 22.5% in the fourth quarter. Stoneridge Investment Partners LLC now owns 44,305 shares of the biopharmaceutical company’s stock valued at $154,000 after acquiring an additional 8,134 shares during the last quarter. Peapod Lane Capital LLC bought a new stake in Chimerix during the fourth quarter worth about $2,626,000. Finally, Valeo Financial Advisors LLC boosted its position in Chimerix by 78.8% during the fourth quarter. Valeo Financial Advisors LLC now owns 146,186 shares of the biopharmaceutical company’s stock valued at $509,000 after purchasing an additional 64,420 shares during the last quarter. 45.42% of the stock is currently owned by institutional investors.

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.