Palumbo Wealth Management LLC Invests $221,000 in Chimerix, Inc. (NASDAQ:CMRX)

Palumbo Wealth Management LLC purchased a new stake in shares of Chimerix, Inc. (NASDAQ:CMRX) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 63,400 shares of the biopharmaceutical company’s stock, valued at approximately $221,000.

Several other large investors have also made changes to their positions in CMRX. Assenagon Asset Management S.A. raised its stake in shares of Chimerix by 154.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 817,739 shares of the biopharmaceutical company’s stock valued at $2,846,000 after acquiring an additional 496,823 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Chimerix by 66.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 344,712 shares of the biopharmaceutical company’s stock valued at $321,000 after purchasing an additional 138,098 shares during the last quarter. Peapod Lane Capital LLC bought a new position in shares of Chimerix in the fourth quarter valued at approximately $2,626,000. Stoneridge Investment Partners LLC lifted its stake in shares of Chimerix by 22.5% in the fourth quarter. Stoneridge Investment Partners LLC now owns 44,305 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 8,134 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in shares of Chimerix by 78.8% during the 4th quarter. Valeo Financial Advisors LLC now owns 146,186 shares of the biopharmaceutical company’s stock worth $509,000 after buying an additional 64,420 shares during the period. Institutional investors own 45.42% of the company’s stock.

Chimerix Price Performance

NASDAQ:CMRX opened at $4.38 on Friday. Chimerix, Inc. has a one year low of $0.75 and a one year high of $4.65. The company has a fifty day moving average price of $3.53 and a 200 day moving average price of $1.82. The stock has a market cap of $393.94 million, a P/E ratio of -4.66 and a beta of 0.35.

Wall Street Analyst Weigh In

CMRX has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of Chimerix in a report on Monday, December 30th. Wedbush restated an “outperform” rating and set a $6.00 target price on shares of Chimerix in a research note on Tuesday, December 10th.

Insider Transactions at Chimerix

In other news, CEO Michael T. Andriole sold 7,370 shares of Chimerix stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $4.52, for a total transaction of $33,312.40. Following the sale, the chief executive officer now owns 609,603 shares of the company’s stock, valued at approximately $2,755,405.56. This trade represents a 1.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 20,760 shares of company stock worth $91,175. 13.10% of the stock is currently owned by company insiders.

About Chimerix

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.