Celldex Therapeutics (NASDAQ:CLDX) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Celldex Therapeutics, Inc. (NASDAQ:CLDX) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $24.38 and traded as high as $26.60. Celldex Therapeutics shares last traded at $26.03, with a volume of 491,410 shares changing hands.

Wall Street Analysts Forecast Growth

CLDX has been the topic of several research reports. Mizuho initiated coverage on shares of Celldex Therapeutics in a research report on Tuesday, October 21st. They issued an “outperform” rating and a $48.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Wednesday, October 8th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $62.00 price objective on shares of Celldex Therapeutics in a research report on Wednesday, September 17th. Finally, Barclays boosted their target price 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 issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.10.

Celldex Therapeutics Stock Performance

The company has a fifty day moving average price of $26.24 and a two-hundred day moving average price of $24.38. The company has a market cap of $1.73 billion, a P/E ratio of -7.70 and a beta of 1.13.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly 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%. Research analysts anticipate that Celldex Therapeutics, Inc. will post -2.48 EPS for the current year.

Insiders Place Their Bets

In other Celldex Therapeutics news, insider Richard M. Wright sold 49,298 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $24.00, for a total transaction of $1,183,152.00. Following the sale, the insider directly owned 20,833 shares of the company’s stock, valued at approximately $499,992. This represents a 70.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in Celldex Therapeutics in the 3rd quarter valued at about $26,000. Nisa Investment Advisors LLC increased its position in Celldex Therapeutics by 171.7% during the second quarter. Nisa Investment Advisors LLC now owns 1,394 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 881 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Celldex Therapeutics in the third quarter valued at approximately $42,000. Russell Investments Group Ltd. lifted its position in shares of Celldex Therapeutics by 27.6% in the second 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 bought a new position in shares of Celldex Therapeutics during the 3rd quarter worth approximately $63,000.

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.