Propel Bio Management LLC Makes New $4.01 Million Investment in Celldex Therapeutics, Inc. $CLDX

Propel Bio Management LLC bought a new stake in Celldex Therapeutics, Inc. (NASDAQ:CLDX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 155,000 shares of the biopharmaceutical company’s stock, valued at approximately $4,010,000. Celldex Therapeutics accounts for 4.0% of Propel Bio Management LLC’s investment portfolio, making the stock its 9th biggest position. Propel Bio Management LLC owned 0.23% of Celldex Therapeutics as of its most recent SEC filing.

Several other large investors have also modified their holdings of CLDX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Celldex Therapeutics by 1.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock worth $798,000 after purchasing an additional 680 shares during the last quarter. Millennium Management LLC lifted its position in Celldex Therapeutics by 327.3% in the first quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company’s stock valued at $7,259,000 after buying an additional 306,330 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Celldex Therapeutics by 12.9% during the first 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 buying an additional 14,979 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Celldex Therapeutics by 171.7% during the second quarter. Nisa Investment Advisors LLC now owns 1,394 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 881 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Celldex Therapeutics during the second quarter valued at about $861,000.

Celldex Therapeutics Stock Up 2.1%

Shares of CLDX opened at $29.54 on Thursday. The company has a market cap of $1.97 billion, a P/E ratio of -7.59 and a beta of 1.17. Celldex Therapeutics, Inc. has a fifty-two week low of $14.40 and a fifty-two week high of $31.31. The firm’s 50 day moving average price is $25.86 and its 200 day moving average price is $25.61.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.22). Celldex Therapeutics had a negative net margin of 3,446.88% and a negative return on equity of 41.67%. The business had revenue of $0.12 million during the quarter, compared to analysts’ expectations of $1.53 million. Research analysts forecast that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CLDX shares. Weiss Ratings restated a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Wednesday, January 21st. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 target price (up from $58.00) on shares of Celldex Therapeutics in a research report on Thursday, February 26th. The Goldman Sachs Group upped their price target on Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Barclays lifted their price objective on Celldex Therapeutics from $21.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

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.