Chimerix (NASDAQ:CMRX) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Chimerix, Inc. (NASDAQ:CMRX) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.91 and traded as low as $0.84. Chimerix shares last traded at $0.87, with a volume of 163,138 shares.

Analysts Set New Price Targets

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

Chimerix Price Performance

The company has a market cap of $78.19 million, a price-to-earnings ratio of -0.94 and a beta of 1.12. The business’s fifty day simple moving average is $0.90 and its two-hundred day simple moving average is $0.91.

Chimerix (NASDAQ:CMRX) last announced its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.23) EPS for the quarter, hitting the consensus estimate of ($0.23). The company had revenue of $0.13 million for the quarter, compared to analyst estimates of $1.26 million. During the same quarter in the prior year, the business earned ($0.21) earnings per share. Sell-side analysts predict that Chimerix, Inc. will post -0.86 EPS for the current fiscal year.

Institutional Trading of Chimerix

Several institutional investors and hedge funds have recently made changes to their positions in CMRX. Acadian Asset Management LLC increased its position 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 worth $2,304,000 after buying an additional 291,981 shares during the period. Marshall Wace LLP purchased a new stake in Chimerix in the 2nd quarter valued at $137,000. Valeo Financial Advisors LLC boosted its stake in 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 purchasing an additional 69,505 shares during the period. Koshinski Asset Management Inc. purchased a new position in Chimerix during the 1st quarter worth $42,000. Finally, Marquette Asset Management LLC increased its stake in Chimerix by 24.3% in the first quarter. Marquette Asset Management LLC now owns 116,009 shares of the biopharmaceutical company’s stock valued at $123,000 after purchasing an additional 22,709 shares during the period. 45.42% of the stock is owned by hedge funds and other 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.