Celldex Therapeutics (NASDAQ:CLDX) Trading Up 4.1% – What’s Next?

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s share price shot up 4.1% during mid-day trading on Wednesday . The stock traded as high as $27.46 and last traded at $27.52. 215,440 shares were traded during mid-day trading, a decline of 78% from the average session volume of 981,881 shares. The stock had previously closed at $26.43.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Mizuho assumed coverage on Celldex Therapeutics in a research report on Tuesday, October 21st. They issued an “outperform” rating and a $48.00 target price for the company. Canaccord Genuity Group restated a “buy” rating and issued a $62.00 price objective on shares of Celldex Therapeutics in a report on Wednesday, September 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Wednesday, October 8th. Finally, Barclays boosted their price target on shares of Celldex Therapeutics from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 17th. One investment 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’s stock. According to data from MarketBeat.com, Celldex Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $44.10.

Celldex Therapeutics Stock Up 2.8%

The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -8.04 and a beta of 1.19. The business has a 50-day moving average price of $26.24 and a 200-day moving average price of $24.45.

Celldex Therapeutics (NASDAQ:CLDX) last released 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%. As a group, sell-side analysts predict that Celldex Therapeutics, Inc. will post -2.48 EPS for the current year.

Insider Buying and Selling at Celldex Therapeutics

In other news, insider Richard M. Wright sold 49,298 shares of Celldex Therapeutics stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $24.00, for a total value of $1,183,152.00. Following the transaction, the insider directly owned 20,833 shares of the company’s stock, valued at $499,992. This trade 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 at this link. 4.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Celldex Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new position in Celldex Therapeutics during the 3rd quarter worth approximately $26,000. Nisa Investment Advisors LLC boosted its position in shares of Celldex Therapeutics by 171.7% in 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 period. Wilmington Savings Fund Society FSB purchased a new position in shares of Celldex Therapeutics during the third quarter valued at $42,000. Russell Investments Group Ltd. raised its position in Celldex Therapeutics by 27.6% during 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 period. Finally, Quantbot Technologies LP purchased a new stake in Celldex Therapeutics in the 3rd quarter worth about $63,000.

About Celldex Therapeutics

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.