Here is What Hedge Funds Think About Chimerix Inc (CMRX)

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As aggregate interest increased, some big names were breaking ground themselves. EcoR1 Capital established the most outsized position in Chimerix Inc (NASDAQ:CMRX). The fund reportedly had $3.3 million invested in the company at the end of the quarter. Hal Mintz’s Sabby Capital also initiated a $0.4 million position during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s now review hedge fund activity in other stocks similar to Chimerix Inc (NASDAQ:CMRX). These stocks are Capitol Acquisition Corp III (NASDAQ:CLACU), B. Riley Financial Inc (NASDAQ:RILY), Handy and Harman Ltd (NASDAQ:HNH), and Inotek Pharmaceuticals Corp (NASDAQ:ITEK). This group of stocks’ market caps match CMRX’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CLACU 13 128330 1
RILY 6 64365 0
HNH 3 188746 -1
ITEK 16 50535 4

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $108 million. That figure was $40 million in CMRX’s case. Inotek Pharmaceuticals Corp (NASDAQ:ITEK) is the most popular stock in this table. On the other hand Handy and Harman Ltd (NASDAQ:HNH) is the least popular one with only 3 bullish hedge fund positions. Chimerix Inc (NASDAQ:CMRX) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ITEK might be a better candidate to consider taking a long position in.

Disclosure: None


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