Celldex Therapeutics (NASDAQ:CLDX) Trading Up 3.7% – Here’s Why

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) shot up 3.7% during mid-day trading on Friday . The stock traded as high as $31.85 and last traded at $31.1520. 253,331 shares were traded during trading, a decline of 69% from the average session volume of 814,822 shares. The stock had previously closed at $30.03.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CLDX. Weiss Ratings restated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Wednesday, January 21st. Barclays boosted their price objective on shares of Celldex Therapeutics from $21.00 to $24.00 and gave the company an “underweight” rating in a report on Wednesday, December 17th. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 price target (up from $58.00) on shares of Celldex Therapeutics in a report on Thursday, February 26th. Finally, The Goldman Sachs Group lifted their price objective on shares of Celldex Therapeutics from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. 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 assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

Celldex Therapeutics Price Performance

The firm’s 50 day moving average is $26.57 and its 200 day moving average is $26.16. The company has a market cap of $2.04 billion, a PE ratio of -7.83 and a beta of 1.17.

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

Hedge Funds Weigh In On Celldex Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Celldex Therapeutics by 1.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock valued at $798,000 after acquiring an additional 680 shares in the last quarter. Millennium Management LLC increased its position in shares of Celldex Therapeutics by 327.3% in the first 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Celldex Therapeutics by 12.9% in 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 valued at $2,383,000 after purchasing an additional 14,979 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in Celldex Therapeutics during the second quarter valued at approximately $861,000. Finally, Geode Capital Management LLC increased its holdings in shares of Celldex Therapeutics by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,672,980 shares of the biopharmaceutical company’s stock worth $34,050,000 after buying an additional 83,174 shares during the last quarter.

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.