Celldex Therapeutics (NASDAQ:CLDX) Sets New 52-Week High – Here’s Why

Celldex Therapeutics, Inc. (NASDAQ:CLDX) hit a new 52-week high on Monday . The stock traded as high as $35.92 and last traded at $34.7520, with a volume of 41264 shares. The stock had previously closed at $35.26.

Analyst Ratings Changes

CLDX has been the topic of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $42.00 price objective on shares of Celldex Therapeutics in a report on Monday, June 15th. Wolfe Research upgraded shares of Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Monday, March 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Monday, April 20th. Wells Fargo & Company boosted their target price on shares of Celldex Therapeutics from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Finally, UBS Group upped their price target on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.30.

Celldex Therapeutics Trading Up 1.8%

The stock has a 50-day simple moving average of $32.06 and a 200 day simple moving average of $29.23. The company has a market cap of $2.82 billion, a price-to-earnings ratio of -8.42 and a beta of 0.95.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.03). The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.80 million. As a group, research analysts forecast that Celldex Therapeutics, Inc. will post -4.36 EPS for the current fiscal year.

Institutional Trading of Celldex Therapeutics

Several large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Celldex Therapeutics by 1.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock valued at $798,000 after purchasing an additional 680 shares during the period. Millennium Management LLC grew its position in Celldex Therapeutics by 327.3% during the 1st quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company’s stock worth $7,259,000 after purchasing an additional 306,330 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Celldex Therapeutics by 12.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,296 shares of the biopharmaceutical company’s stock worth $2,383,000 after purchasing an additional 14,979 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Celldex Therapeutics by 27.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 501 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of Celldex Therapeutics during the 2nd quarter valued at about $347,000.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted immunotherapies for cancer and other serious diseases. The company’s research platforms leverage novel antibody and vaccine technologies designed to engage the patient’s immune system, with a particular emphasis on oncology and neurologic indications. Celldex’s pipeline includes both monoclonal antibodies and biologic agents that seek to modulate immune responses or deliver targeted cytotoxic activity.

Among Celldex’s lead product candidates is glembatumumab vedotin, an antibody–drug conjugate directed against the glycoprotein NMB (gpNMB) for the treatment of certain breast and skin cancers.