Celldex Therapeutics (NASDAQ:CLDX) Given New $24.00 Price Target at Barclays

Celldex Therapeutics (NASDAQ:CLDX) had its target price upped by Barclays from $21.00 to $24.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an underweight rating on the biopharmaceutical company’s stock.

Other equities research analysts have also issued reports about the company. HC Wainwright lowered their price objective on Celldex Therapeutics from $50.00 to $42.00 and set a “buy” rating on the stock in a research note on Wednesday, August 20th. Mizuho started coverage on Celldex Therapeutics in a research report on Tuesday, October 21st. They issued an “outperform” rating and a $48.00 price target on the stock. Wells Fargo & Company cut their price objective on Celldex Therapeutics from $44.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $62.00 target price on shares of Celldex Therapeutics in a research report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Celldex Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $44.10.

Celldex Therapeutics Stock Performance

Shares of CLDX stock opened at $25.77 on Wednesday. The firm has a fifty day moving average of $26.35 and a 200-day moving average of $24.01. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -7.62 and a beta of 1.13. Celldex Therapeutics has a 52-week low of $14.40 and a 52-week high of $30.50.

Celldex Therapeutics (NASDAQ:CLDX) last posted its earnings results on Monday, November 10th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.13). Celldex Therapeutics had a negative net margin of 3,446.88% and a negative return on equity of 33.22%. On average, sell-side analysts predict that Celldex Therapeutics will post -2.48 earnings per share for the current year.

Insider Buying and Selling at Celldex Therapeutics

In related news, insider Richard M. Wright sold 49,298 shares of Celldex Therapeutics stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $24.00, for a total value of $1,183,152.00. Following the completion of the transaction, the insider directly owned 20,833 shares of the company’s stock, valued at $499,992. The trade was a 70.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Celldex Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLDX. Aster Capital Management DIFC Ltd bought a new position in shares of Celldex Therapeutics in the third quarter worth about $26,000. Nisa Investment Advisors LLC raised its position in Celldex Therapeutics by 171.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,394 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 881 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Celldex Therapeutics in the 3rd quarter worth approximately $42,000. Russell Investments Group Ltd. boosted its position in Celldex Therapeutics by 27.6% in 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, Quantbot Technologies LP acquired a new stake in shares of Celldex Therapeutics in the 3rd quarter valued at $63,000.

About Celldex Therapeutics

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.