Chimerix (NASDAQ:CMRX) Stock Price Crosses Above Fifty Day Moving Average – Time to Sell?

Shares of Chimerix, Inc. (NASDAQ:CMRX) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $1.82 and traded as high as $3.80. Chimerix shares last traded at $3.54, with a volume of 1,915,300 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CMRX shares. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price target on shares of Chimerix in a research report on Monday, December 30th. Wedbush reaffirmed an “outperform” rating and issued a $6.00 target price on shares of Chimerix in a report on Tuesday, December 10th.

Chimerix Stock Performance

The company’s 50 day moving average is $1.82 and its 200 day moving average is $1.22. The stock has a market capitalization of $318.37 million, a price-to-earnings ratio of -3.77 and a beta of 0.36.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. grew its position 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 worth $321,000 after buying an additional 138,098 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Chimerix in the 2nd quarter worth approximately $137,000. Finally, Valeo Financial Advisors LLC grew its holdings in shares of 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 in the last quarter. 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.