Celldex Therapeutics (NASDAQ:CLDX) Trading Up 3.3%

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s share price rose 3.3% during trading on Thursday . The company traded as high as $44.89 and last traded at $44.71. Approximately 143 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 1,651,632 shares. The stock had previously closed at $43.30.

CLDX has been the topic of a number of recent analyst reports. HC Wainwright upped their price target on shares of Celldex Therapeutics from $36.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, July 12th. Zacks Investment Research downgraded shares of Celldex Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, July 13th. Finally, Guggenheim began coverage on Celldex Therapeutics in a report on Thursday. They issued a “buy” rating and a $66.00 price target on the stock. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $43.50.

The firm’s 50-day moving average is $31.61. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -23.97 and a beta of 3.05.

Celldex Therapeutics (NASDAQ:CLDX) last announced its earnings results on Thursday, May 6th. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.07). Celldex Therapeutics had a negative net margin of 1,184.99% and a negative return on equity of 24.71%. The company had revenue of $0.69 million for the quarter, compared to analyst estimates of $1.13 million. As a group, analysts predict that Celldex Therapeutics, Inc. will post -1.62 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of CLDX. Redmile Group LLC raised its stake in Celldex Therapeutics by 24.9% in the 1st quarter. Redmile Group LLC now owns 3,387,788 shares of the biopharmaceutical company’s stock valued at $69,788,000 after purchasing an additional 676,172 shares during the last quarter. RTW Investments LP raised its position in shares of Celldex Therapeutics by 14.2% in the first quarter. RTW Investments LP now owns 3,908,947 shares of the biopharmaceutical company’s stock valued at $80,524,000 after buying an additional 486,092 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Celldex Therapeutics by 145.3% during the first quarter. Millennium Management LLC now owns 505,163 shares of the biopharmaceutical company’s stock valued at $10,406,000 after buying an additional 299,241 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in shares of Celldex Therapeutics during the fourth quarter valued at approximately $5,135,000. Finally, ExodusPoint Capital Management LP acquired a new stake in Celldex Therapeutics during the fourth quarter worth approximately $2,989,000. Hedge funds and other institutional investors own 87.45% of the company’s stock.

Celldex Therapeutics Company Profile (NASDAQ:CLDX)

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 diseases and various forms of cancer. The company's clinical development programs CDX-0159, a Phase I monoclonal antibody that binds the receptor tyrosine kinase KIT and inhibits its activity; CDX-1140, a human agonist monoclonal antibody targeted to CD40, a key activator of immune response, which is found on dendritic cells, macrophages, and B cells, as well as is expressed on various cancer cells; and CDX-527, a bispecific antibody, which uses the company's proprietary active anti-PD-L1 and CD27 human antibodies to couple CD27 costimulation with blockade of the PD-L1/PD-1 pathway to help prime and activate anti-tumor T cell responses through CD27 costimulation.

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