Point72 Asset Management L.P. Makes New $44.18 Million Investment in Chimerix, Inc. (NASDAQ:CMRX)

Point72 Asset Management L.P. bought a new position in shares of Chimerix, Inc. (NASDAQ:CMRX) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,582,872 shares of the biopharmaceutical company’s stock, valued at approximately $44,179,000. Point72 Asset Management L.P. owned 5.32% of Chimerix as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Pacer Advisors Inc. bought a new position in Chimerix during the first quarter worth about $29,000. Federated Hermes Inc. bought a new position in shares of Chimerix in the first quarter valued at approximately $43,000. Meeder Asset Management Inc. bought a new position in shares of Chimerix in the first quarter valued at approximately $45,000. Dorsey Wright & Associates bought a new position in shares of Chimerix in the first quarter valued at approximately $46,000. Finally, E Fund Management Co. Ltd. bought a new position in shares of Chimerix in the first quarter valued at approximately $51,000. Hedge funds and other institutional investors own 55.88% of the company’s stock.

In related news, Director Fred A. Middleton purchased 6,950 shares of the business’s stock in a transaction that occurred on Monday, June 28th. The shares were acquired at an average price of $7.83 per share, for a total transaction of $54,418.50. Following the completion of the acquisition, the director now directly owns 200,573 shares in the company, valued at approximately $1,570,486.59. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.40% of the company’s stock.

Several research firms have commented on CMRX. Wedbush began coverage on shares of Chimerix in a research note on Wednesday, March 31st. They set an “outperform” rating and a $21.00 price target on the stock. Jonestrading reissued a “buy” rating and set a $14.00 price target on shares of Chimerix in a research note on Monday, April 12th. Jefferies Financial Group began coverage on shares of Chimerix in a research note on Wednesday, March 31st. They set a “buy” rating and a $21.00 price target on the stock. Zacks Investment Research downgraded shares of Chimerix from a “buy” rating to a “hold” rating in a research note on Wednesday, June 2nd. Finally, HC Wainwright lifted their price target on shares of Chimerix from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, June 7th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $17.38.

NASDAQ:CMRX opened at $7.85 on Thursday. The company has a market capitalization of $676.75 million, a PE ratio of -4.51 and a beta of 1.57. The firm has a fifty day moving average of $7.99. Chimerix, Inc. has a twelve month low of $2.22 and a twelve month high of $11.57.

Chimerix (NASDAQ:CMRX) last released its quarterly earnings results on Thursday, May 6th. The biopharmaceutical company reported ($1.21) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.73). The company had revenue of $1.44 million during the quarter. Chimerix had a negative net margin of 2,344.90% and a negative return on equity of 49.70%. As a group, sell-side analysts forecast that Chimerix, Inc. will post -0.08 EPS for the current year.

About Chimerix

Chimerix, Inc, a development-stage biopharmaceutical company, focuses on accelerating the advancement of various medicines that impact in the lives of patients living with cancer and other serious diseases. Its clinical stage development programs include brincidofovir (BCV), an antiviral drug candidate in development as a medical countermeasure for smallpox; dociparstat sodium (DSTAT), which inhibits the activities of key proteins implicated in the resistance of acute myeloid leukemia blasts and leukemic stem cells to chemotherapy; and ONC201 a program for potentially treating tumors which harbor the H3 K27M mutation in recurrent diffuse midline glioma patients.

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Institutional Ownership by Quarter for Chimerix (NASDAQ:CMRX)

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