Chimerix Inc (NASDAQ:CMRX) saw an uptick in trading volume on Tuesday . 2,895,441 shares were traded during mid-day trading, an increase of 445% from the previous session’s volume of 530,798 shares.The stock last traded at $2.72 and had previously closed at $2.39.
Separately, Zacks Investment Research upgraded shares of Chimerix from a “hold” rating to a “buy” rating and set a $1.75 target price for the company in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $3.44.
The stock has a market capitalization of $150.69 million, a PE ratio of -1.72 and a beta of 1.46. The stock’s 50 day moving average price is $1.76 and its 200-day moving average price is $2.67.
Chimerix (NASDAQ:CMRX) last released its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.07. The company had revenue of $1.96 million for the quarter, compared to the consensus estimate of $1.30 million. Chimerix had a negative net margin of 1,162.96% and a negative return on equity of 38.75%. Analysts anticipate that Chimerix Inc will post -1.01 earnings per share for the current year.
In other news, insider Michael T. Andriole acquired 100,000 shares of Chimerix stock in a transaction dated Wednesday, November 6th. The stock was purchased at an average cost of $1.56 per share, for a total transaction of $156,000.00. Following the completion of the purchase, the insider now directly owns 100,000 shares in the company, valued at approximately $156,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Fred A. Middleton acquired 20,000 shares of Chimerix stock in a transaction dated Monday, November 11th. The stock was purchased at an average price of $1.66 per share, with a total value of $33,200.00. Following the completion of the purchase, the director now owns 117,523 shares of the company’s stock, valued at $195,088.18. The disclosure for this purchase can be found here. Insiders have purchased a total of 160,000 shares of company stock worth $259,600 over the last quarter. 9.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. boosted its position in shares of Chimerix by 289.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 25,269 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 18,779 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in Chimerix in the 2nd quarter valued at about $67,000. Dowling & Yahnke LLC purchased a new position in Chimerix during the 3rd quarter valued at about $87,000. Susquehanna International Group LLP purchased a new position in Chimerix during the 2nd quarter valued at about $92,000. Finally, Prudential Financial Inc. purchased a new position in Chimerix during the 2nd quarter valued at about $104,000. Hedge funds and other institutional investors own 57.29% of the company’s stock.
About Chimerix (NASDAQ:CMRX)
Chimerix, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines that address unmet medical needs in the United States. The company's lead product candidate is brincidofovir, an investigational nucleoside analog for the prevention of viral infections in hematopoietic or stem cell transplant recipients (HCT), as well as for the treatment of adenovirus infection and disease, smallpox, and BK virus infection in kidney and HCT transplant recipients.
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