Palumbo Wealth Management LLC Buys New Position in Chimerix, Inc. (NASDAQ:CMRX)

Palumbo Wealth Management LLC purchased a new position in Chimerix, Inc. (NASDAQ:CMRX) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 63,400 shares of the biopharmaceutical company’s stock, valued at approximately $221,000. Palumbo Wealth Management LLC owned approximately 0.07% of Chimerix at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMRX. Stoneridge Investment Partners LLC grew its stake in shares of Chimerix by 22.5% in the 4th quarter. Stoneridge Investment Partners LLC now owns 44,305 shares of the biopharmaceutical company’s stock worth $154,000 after purchasing an additional 8,134 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in Chimerix by 78.8% during the fourth 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Chimerix by 66.8% in 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 during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Chimerix by 154.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 817,739 shares of the biopharmaceutical company’s stock valued at $2,846,000 after buying an additional 496,823 shares in the last quarter. Finally, Peapod Lane Capital LLC acquired a new stake in shares of Chimerix during the 4th quarter valued at $2,626,000. 45.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CMRX. HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of Chimerix in a report on Monday, December 30th. Wedbush restated an “outperform” rating and set a $6.00 price objective on shares of Chimerix in a report on Tuesday, December 10th.

Chimerix Stock Performance

Chimerix stock opened at $4.38 on Friday. The company has a 50 day moving average price of $3.53 and a 200 day moving average price of $1.82. Chimerix, Inc. has a 52 week low of $0.75 and a 52 week high of $4.65. The firm has a market capitalization of $393.94 million, a price-to-earnings ratio of -4.66 and a beta of 0.35.

Insider Transactions at Chimerix

In other news, CEO Michael T. Andriole sold 7,370 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $4.52, for a total value of $33,312.40. Following the completion of the sale, the chief executive officer now directly owns 609,603 shares of the company’s stock, valued at $2,755,405.56. This represents a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 20,760 shares of company stock valued at $91,175 over the last quarter. Company insiders own 13.10% of the company’s stock.

Chimerix 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.