Earlier this week, shares of Chimerix (CMRX) dove more than 80% on news that a late-stage trial of an anti-viral to prevent infections in blood and marrow transplants fell short of expectations.
While many viewed this as dead stock, that may not be the case, as Steve Cohen’s hedge fund, Point72 bought a 5.3% stake in the stock. And from my understanding there’s still an FDA review coming up in February 2016 that may serve as a catalyst.
Let’s take a small position in the stock and options. But only open a small position. This stock is still a bit volatile after the latest news.
Consider buying the stock up to $10 and / or the CMRX May 2016 10 calls up to $2.
Have a very happy, healthy… and profitable New Year!!
Best wishes to you and your families…
Ian L. Cooper
Rapid Retirement System