Chimerix (CMRX) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 4,616,894 to 4,353,312 shares, with 7 days to go before the expiry. The short open interest has decreased by -5.7%, amounting to a reduction of -263,582 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 10.6% of the float of the company. The average daily volume of the stock is 591,297 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Chimerix (NASDAQ:CMRX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.74 and $4.71 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.09. The buying momentum continued till the end and the stock did not give up its gains. It closed at $4.78, notching a gain of 0.42% for the day. The total traded volume was 1,270,483 . The stock had closed at $4.76 on the previous day.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the Director of CHIMERIX INC, Mario Ernest, had purchased 50,000 shares in a transaction dated on June 24, 2016. The transaction was executed at $3.7 per share with total amount equaling $185,000.
Chimerix, Inc. a biopharmaceutical company dedicated to discovering, developing and commercializing oral antivirals. The Companys lipid conjugate technology has developed its lead compound, brincidofovir (BCV, CMX001), which is in Phase III clinical development. It is clinical-stage nucleotide analog lipid-conjugate which has demonstrated potent antiviral activity and safety in convenient, orally administered dosing regimens. In addition, it has an active discovery program focusing on viral targets. CMX157, is its second clinical-stage nucleotide analog, uses the same lipid technology as brincidofovir to deliver high intracellular concentrations of the potent antiviral drug, tenofovir. Tenofovir, marketed under the brand name Viread and in multiple fixed-dose combinations, is used for the treatment of human immunodeficiency virus (HIV) and hepatitis B virus (HBV) infection. It has discovered, developed and selected a clinical candidate, CMX669, for BK virus and cytomegalovirus (CMV).