Rubric Capital Makes Huge Add to Chimerix (CMRX) Position

Investing

Published: November 11, 2022 3:45 am

Last Updated: November 11, 2022 1:02 pm

Rubric Capital Management LP has filed a 13D form with the SEC disclosing ownership of 7,500,000 shares of Chimerix Inc (CMRX). This represents 8.51% of the company.

In their previous filing dated February 14, 2022 they reported 4,800,000 shares and 5.53% of the company, an increase in shares of 56.25% and an increase in total ownership of 2.98% (calculated as current – previous percent ownership).

What are other large shareholders doing?

BlackRock Inc. holds 5,778,626 shares representing 6.56% ownership of the company. In it’s prior filing, the firm reported owning 5,349,042 shares, representing an increase of 7.43%. The firm decreased its portfolio allocation in CMRX by 41.59% over the last quarter.

Suvretta Capital Management, Llc holds 5,271,696 shares representing 5.99% ownership of the company. In it’s prior filing, the firm reported owning 2,766,619 shares, representing an increase of 47.52%. The firm increased its portfolio allocation in CMRX by 7.72% over the last quarter.

Vanguard Group Inc holds 3,866,810 shares representing 4.39% ownership of the company. In it’s prior filing, the firm reported owning 3,832,252 shares, representing an increase of 0.89%. The firm decreased its portfolio allocation in CMRX by 45.54% over the last quarter.

Armistice Capital, Llc holds 3,524,000 shares representing 4.00% ownership of the company. In it’s prior filing, the firm reported owning 0 shares, representing an increase of 100.00%.

What is the overall institutional sentiment?

There are 277 funds or institutions reporting positions in Chimerix Inc. This is a decrease of 10 owner(s) or 3.48%.

Average portfolio weight of all funds dedicated to Chimerix Inc is 0.0403%, a decrease of 49.8348%. Total shares owned by institutions decreased in the last three months by 5.79% to 54,132,375 shares.

Based on this information, institutional sentiment is bearish.

This article originally appeared on Fintel

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