Chimerix (NASDAQ:CMRX) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Chimerix, Inc. (NASDAQ:CMRX) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.91 and traded as high as $1.00. Chimerix shares last traded at $0.99, with a volume of 207,019 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $6.00 target price on shares of Chimerix in a research report on Tuesday, August 13th. StockNews.com raised shares of Chimerix from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of Chimerix in a research note on Wednesday, August 14th.

Chimerix Price Performance

The stock has a 50-day moving average price of $0.90 and a 200-day moving average price of $0.91. The firm has a market capitalization of $88.74 million, a PE ratio of -1.04 and a beta of 1.12.

Chimerix (NASDAQ:CMRX) last posted its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.23). The business had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $1.26 million. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. As a group, equities research analysts predict that Chimerix, Inc. will post -0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC raised its stake in shares of Chimerix by 566.9% in the 3rd 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 in the last quarter. Marshall Wace LLP acquired a new stake in Chimerix during the second quarter valued at approximately $137,000. Acadian Asset Management LLC raised its stake in Chimerix by 15.5% during the first quarter. Acadian Asset Management LLC now owns 2,174,813 shares of the biopharmaceutical company’s stock valued at $2,304,000 after buying an additional 291,981 shares in the last quarter. Koshinski Asset Management Inc. bought a new position in Chimerix during the 1st quarter worth approximately $42,000. Finally, Marquette Asset Management LLC grew its position in shares of Chimerix by 24.3% in the 1st quarter. Marquette Asset Management LLC now owns 116,009 shares of the biopharmaceutical company’s stock worth $123,000 after acquiring an additional 22,709 shares in the last quarter. 45.42% of the stock is owned by institutional investors and hedge funds.

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.