Celldex Therapeutics (NASDAQ:CLDX) Trading 3.7% Higher – Should You Buy?

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price shot up 3.7% during trading on Friday . The company traded as high as $31.85 and last traded at $31.1520. 253,331 shares traded hands during trading, a decline of 69% from the average session volume of 814,822 shares. The stock had previously closed at $30.03.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CLDX shares. The Goldman Sachs Group boosted their price objective on shares of Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 target price (up from $58.00) on shares of Celldex Therapeutics in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Wednesday, January 21st. Finally, Barclays boosted their price target on Celldex Therapeutics from $21.00 to $24.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Celldex Therapeutics Stock Up 2.9%

The stock has a market capitalization of $2.06 billion, a PE ratio of -7.94 and a beta of 1.17. The firm’s fifty day moving average price is $26.64 and its two-hundred day moving average price is $26.25.

Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.22). Celldex Therapeutics had a negative return on equity of 41.67% and a negative net margin of 3,446.88%.The company had revenue of $0.12 million during the quarter, compared to analysts’ expectations of $1.53 million. As a group, analysts predict that Celldex Therapeutics, Inc. will post -2.48 EPS for the current year.

Hedge Funds Weigh In On Celldex Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Handelsbanken Fonder AB lifted its holdings in shares of Celldex Therapeutics by 2.4% in the second quarter. Handelsbanken Fonder AB now owns 21,600 shares of the biopharmaceutical company’s stock worth $440,000 after buying an additional 500 shares in the last quarter. Russell Investments Group Ltd. grew its stake 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 acquiring an additional 501 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Celldex Therapeutics by 1.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock valued at $798,000 after acquiring an additional 680 shares during the last quarter. ProShare Advisors LLC increased its holdings in Celldex Therapeutics by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 11,973 shares of the biopharmaceutical company’s stock valued at $325,000 after acquiring an additional 773 shares during the last quarter. Finally, DNB Asset Management AS lifted its stake in Celldex Therapeutics by 7.7% in the 3rd quarter. DNB Asset Management AS now owns 13,251 shares of the biopharmaceutical company’s stock worth $343,000 after purchasing an additional 951 shares in the last quarter.

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.