Gold prices bounce off 3-week lows; demand likely longer term
Michael Albert Alrutz, the Senior Vice President and General Counsel at Chimerix Inc . (NASDAQ:CMRX), recently sold a portion of his holdings in the company. Alrutz sold 1,600 shares of common stock on February 13, 2025, at a weighted average price of $4.5165 per share. This transaction amounted to a total value of approximately $7,226. The sale comes as CMRX trades near its 52-week high of $4.65, having delivered an impressive return of over 400% in the past six months. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $6 to $11.
Following this sale, Alrutz retains ownership of 213,596 shares of Chimerix. The sale was conducted as part of an automatic sell-to-cover arrangement, which was put in place to cover tax liabilities incurred upon the vesting of shares from a restricted stock unit award granted on February 1, 2024. The shares were sold at prices ranging from $4.505 to $4.535. InvestingPro analysis indicates the stock is currently in overbought territory, with technical indicators suggesting potential price consolidation. Subscribers can access 15+ additional ProTips and comprehensive analysis in the Pro Research Report.
In other recent news, TD Cowen, through its analyst Joseph Thome, has outlined ten anticipated biotech catalysts for the year 2025. Among them, ANAB is expected to release Phase II rheumatoid arthritis data for Rosnilimab, and QURE is working towards submitting an accelerated approval application for AMT-130 in Huntington's disease. These are among the recent developments that may impact investor interest.
Additionally, Chimerix has submitted dordaviprone for accelerated approval and is currently awaiting a decision from the FDA. H.C. Wainwright reaffirmed its Buy rating on Chimerix, highlighting the company's recent submission of a New Drug Application for dordaviprone. The firm forecasts a potential launch for dordaviprone in the third quarter of 2025.
In other company news, Chimerix announced the amendment and restatement of its Officer Severance Benefit Plan. The updated plan extends its term for an additional three years from the effective date of November 12, 2024. This decision aligns with corporate governance practices, ensuring clear expectations regarding officer compensation in the event of a severance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.