Chimerix (NASDAQ:CMRX) Downgraded to “Sell” at StockNews.com

Chimerix (NASDAQ:CMRX) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Separately, Wedbush reiterated an “outperform” rating and issued a $6.00 target price on shares of Chimerix in a report on Tuesday.

Chimerix Stock Down 6.2 %

NASDAQ:CMRX traded down $0.05 on Tuesday, reaching $0.77. 563,621 shares of the company’s stock were exchanged, compared to its average volume of 310,471. The firm has a market capitalization of $69.10 million, a price-to-earnings ratio of -0.83 and a beta of 1.20. Chimerix has a 52-week low of $0.75 and a 52-week high of $1.30. The business has a fifty day moving average of $0.88 and a 200-day moving average of $0.97.

Hedge Funds Weigh In On Chimerix

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vestal Point Capital LP purchased a new position in Chimerix in the fourth quarter valued at approximately $1,348,000. Acadian Asset Management LLC grew its position in shares of Chimerix by 15.5% in the 1st 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 during the last quarter. Pale Fire Capital SE raised its stake in Chimerix by 113.6% during the 4th quarter. Pale Fire Capital SE now owns 211,214 shares of the biopharmaceutical company’s stock worth $203,000 after acquiring an additional 112,318 shares in the last quarter. Vance Wealth Inc. acquired a new stake in Chimerix during the 4th quarter worth $46,000. Finally, Koshinski Asset Management Inc. purchased a new stake in Chimerix in the first quarter valued at $42,000. Institutional investors and hedge funds own 45.42% of the company’s stock.

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.