Celldex Therapeutics, Inc. (NASDAQ:CLDX) Given Consensus Rating of “Moderate Buy” by Analysts

Celldex Therapeutics, Inc. (NASDAQ:CLDX) has been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $44.10.

Several equities analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Wednesday, October 8th. Mizuho started coverage on Celldex Therapeutics in a research note on Tuesday, October 21st. They set an “outperform” rating and a $48.00 price target for the company. Barclays raised their price objective on Celldex Therapeutics from $21.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, December 17th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $62.00 target price on shares of Celldex Therapeutics in a research report on Wednesday, September 17th.

Insider Activity

In related news, insider Richard M. Wright sold 49,298 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $499,992. This trade represents a 70.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vestal Point Capital LP boosted its holdings in Celldex Therapeutics by 781.0% in the 2nd quarter. Vestal Point Capital LP now owns 1,750,000 shares of the biopharmaceutical company’s stock valued at $35,612,000 after purchasing an additional 1,551,354 shares during the period. Braidwell LP acquired a new stake in shares of Celldex Therapeutics during the 3rd quarter worth approximately $15,307,000. Wellington Management Group LLP increased its position in shares of Celldex Therapeutics by 10.8% during the third quarter. Wellington Management Group LLP now owns 5,800,003 shares of the biopharmaceutical company’s stock valued at $150,046,000 after purchasing an additional 567,677 shares during the period. Eventide Asset Management LLC increased its position in shares of Celldex Therapeutics by 37.1% during the third quarter. Eventide Asset Management LLC now owns 1,859,095 shares of the biopharmaceutical company’s stock valued at $48,096,000 after purchasing an additional 502,909 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Celldex Therapeutics by 104.3% in the third quarter. Millennium Management LLC now owns 975,195 shares of the biopharmaceutical company’s stock valued at $25,228,000 after purchasing an additional 497,968 shares in the last quarter.

Celldex Therapeutics Price Performance

Shares of CLDX stock opened at $26.28 on Wednesday. The firm has a market cap of $1.75 billion, a P/E ratio of -7.78 and a beta of 1.19. Celldex Therapeutics has a fifty-two week low of $14.40 and a fifty-two week high of $30.50. The stock’s 50-day moving average is $26.19 and its two-hundred day moving average is $24.63.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings data on Monday, November 10th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing the consensus estimate 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, research analysts expect that Celldex Therapeutics will post -2.48 EPS for the current year.

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.