It’s been a terrible week if you are a shareholder of Chimerix Inc (NASDAQ:CMRX) stock, as the shares plunged on Monday after the company reported disappointing phase 3 results for trials of their drug brincidofovir. On Monday the stock opened down big and continued to plunge, ultimately losing over 80% on the day. Since then, however, shares of Chimerix Inc (NASDAQ:CMRX) have slowly been bouncing back, with decent gains both Tuesday and Wednesday. Shares closed yesterday at $8.35, still a far cry from where they were just last week, but off of the $6.43 low seen on Monday.
The uptrend seems to be continuing this morning as investors may feel the stock had sold off too much on bad news. Additionally the fact that Point72 Asset Management has disclosed a 5.3% stake in the bio-pharmaceutical company may be convincing some shareholders to take another look at this stock. Shares are up another $0.39 or 4.67% in pre-market trading on this last day of 2015. The stock closed at $8.35 during the last trading session. It is down 79.93% since May 28, 2015 and is downtrending. It has underperformed the S&P500 by 77.81%.
From a total of 8 analysts covering Chimerix Inc (NASDAQ:CMRX) stock, 5 rate it a “Buy”, 0 a “Sell”, and 3 a “Hold”. This means that 63% of the ratings are positive. The highest target price is $63 while the lowest target price is $10.0. The mean of all analyst targets is $30.43 which is 264.43% above today’s ($8.35) stock price. Chimerix Inc was the topic of 10 analyst reports since August 5, 2015 according to the firm StockzIntelligence Inc. JP Morgan downgraded shares on December 29 to a “Neutral” rating. Morgan Stanley downgraded shares to a”Equal-Weight” rating and a $50 target share price in their report from an October 5. Piper Jaffray maintained CMRX stock in a recent report from December 28 with a “Overweight” rating. Finally, UBS initiated the stock with a “Buy” rating in a report they issued on a December 17.
The institutional sentiment decreased to 1.47 in Q2 2015. It’s down 0.73, from 2.2 in 2015Q2. The ratio dropped, as 24 funds sold all their Chimerix Inc shares they owned while 40 reduced their positions. 27 funds bought stakes while 67 increased their total positions. Institutions now own 50.58 million shares which is 24.74% more than the previous share count of 40.55 million in 2015Q2.
New Leaf Venture Partners L.L.C. holds 11.76% of its total portfolio in Chimerix Inc, equating to 355,007 shares. Oracle Investment Management Inc owns 986,421 shares representing 7.71% of their total US portfolio. Moreover, Opaleye Management Inc. has 5.83% of their total portfolio invested in the company, equating to 310,000 shares. The New York-based Aisling Capital Llc has a total of 4.85% of their portfolio invested in the stock. Biondo Investment Advisors Llc, a Pennsylvania-based fund reported 223,374 shares owned.
Since April 3, 2015, the stock had 0 insider buys, and 3 insider sales for a total of $1.57 million in net activity. Demski Martha J sold 2,000 shares worth $75,368. Trost Timothy W. sold 28,000 shares worth $1.40 million.
Chimerix, Inc. a biopharmaceutical company dedicated to discovering, developing and commercializing oral antivirals. The company has a market cap of $385.32 million. The Company’s lipid conjugate technology has developed its lead compound, brincidofovir , which is in Phase III clinical development. It currently has negative earnings. It is clinical-stage nucleotide analog lipid-conjugate which has demonstrated potent antiviral activity and safety in convenient, orally administered dosing regimens.