Chimerix Inc (NASDAQ:CMRX) shares saw unusually-high trading volume on Tuesday . Approximately 2,895,441 shares changed hands 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 raised shares of Chimerix from a “hold” rating to a “buy” rating and set a $1.75 target price on the stock in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Chimerix has a consensus rating of “Hold” and an average target price of $3.44.
The stock has a 50 day simple moving average of $1.76 and a 200 day simple moving average of $2.67. The company has a market cap of $150.69 million, a price-to-earnings ratio of -1.72 and a beta of 1.46.
Chimerix (NASDAQ:CMRX) last issued its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.07. Chimerix had a negative return on equity of 38.75% and a negative net margin of 1,162.96%. The company had revenue of $1.96 million during the quarter, compared to the consensus estimate of $1.30 million. On average, research analysts anticipate that Chimerix Inc will post -1.01 earnings per share for the current fiscal year.
In other news, Director Fred A. Middleton purchased 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average price of $1.82 per share, with a total value of $54,600.00. Following the purchase, the director now directly owns 117,523 shares of the company’s stock, valued at approximately $213,891.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael T. Andriole acquired 100,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was purchased at an average price of $1.56 per share, for a total transaction of $156,000.00. Following the acquisition, the insider now directly owns 100,000 shares in the company, valued at $156,000. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 160,000 shares of company stock valued at $259,600. 9.40% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in CMRX. Public Employees Retirement System of Ohio acquired a new stake in shares of Chimerix during the third quarter worth approximately $113,000. Russell Investments Group Ltd. increased its holdings in shares of Chimerix by 70.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 129,491 shares of the biopharmaceutical company’s stock worth $305,000 after acquiring an additional 53,669 shares during the period. Dowling & Yahnke LLC bought a new stake in Chimerix in the 3rd quarter valued at about $87,000. Meeder Asset Management Inc. lifted its position in Chimerix by 289.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 25,269 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 18,779 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new position in Chimerix during the 2nd quarter valued at about $92,000. 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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