Corebridge Financial Inc. Reduces Stake in Celldex Therapeutics, Inc. (NASDAQ:CLDX)

Corebridge Financial Inc. trimmed its position in shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,115 shares of the biopharmaceutical company’s stock after selling 2,424 shares during the quarter. Corebridge Financial Inc.’s holdings in Celldex Therapeutics were worth $812,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Celldex Therapeutics by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 9,243,599 shares of the biopharmaceutical company’s stock worth $314,190,000 after buying an additional 1,167,659 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Celldex Therapeutics by 46.5% in the fourth quarter. American Century Companies Inc. now owns 608,457 shares of the biopharmaceutical company’s stock valued at $15,376,000 after purchasing an additional 193,093 shares in the last quarter. Sovran Advisors LLC acquired a new stake in shares of Celldex Therapeutics in the fourth quarter valued at approximately $2,867,000. Fisher Asset Management LLC increased its stake in shares of Celldex Therapeutics by 20.9% during the 4th quarter. Fisher Asset Management LLC now owns 452,497 shares of the biopharmaceutical company’s stock worth $11,435,000 after purchasing an additional 78,145 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Celldex Therapeutics by 140.7% during the 3rd quarter. Barclays PLC now owns 130,381 shares of the biopharmaceutical company’s stock worth $4,431,000 after purchasing an additional 76,207 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CLDX shares. HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Celldex Therapeutics in a research report on Friday, February 28th. The Goldman Sachs Group dropped their price objective on Celldex Therapeutics from $42.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Morgan Stanley assumed coverage on shares of Celldex Therapeutics in a report on Thursday, March 20th. They issued an “overweight” rating and a $46.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 price objective on shares of Celldex Therapeutics in a research report on Wednesday, January 29th. Finally, UBS Group began coverage on shares of Celldex Therapeutics in a research report on Thursday, February 13th. They set a “buy” rating and a $44.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.

Celldex Therapeutics Stock Performance

CLDX opened at $15.78 on Friday. The company has a market capitalization of $1.05 billion, a P/E ratio of -6.14 and a beta of 1.59. Celldex Therapeutics, Inc. has a 1-year low of $15.46 and a 1-year high of $47.00. The company has a 50-day moving average of $21.18 and a 200-day moving average of $25.45.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.02. Celldex Therapeutics had a negative net margin of 1,544.32% and a negative return on equity of 19.75%. The firm had revenue of $1.18 million during the quarter, compared to analyst estimates of $1.25 million. As a group, sell-side analysts expect that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal year.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.