Celldex Therapeutics (NASDAQ:CLDX) Sees Unusually-High Trading Volume – Here’s Why

Celldex Therapeutics, Inc. (NASDAQ:CLDX) saw strong trading volume on Tuesday . 1,803,140 shares traded hands during mid-day trading, an increase of 97% from the previous session’s volume of 915,741 shares.The stock last traded at $20.32 and had previously closed at $19.97.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group assumed coverage on shares of Celldex Therapeutics in a research report on Monday, April 28th. They issued a “buy” rating and a $64.00 price target for the company. The Goldman Sachs Group dropped their price objective on shares of Celldex Therapeutics from $36.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Morgan Stanley dropped their price objective on shares of Celldex Therapeutics from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Celldex Therapeutics in a research note on Tuesday, May 6th. Finally, UBS Group dropped their price objective on shares of Celldex Therapeutics from $44.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.90.

Celldex Therapeutics Price Performance

The business’s 50 day moving average price is $18.87 and its 200-day moving average price is $22.09. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -7.73 and a beta of 1.39.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.06). Celldex Therapeutics had a negative return on equity of 19.75% and a negative net margin of 1,544.32%. The firm had revenue of $0.70 million for the quarter, compared to analyst estimates of $1.08 million. As a group, analysts expect that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CLDX. EverSource Wealth Advisors LLC increased its stake in shares of Celldex Therapeutics by 215.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,285 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 878 shares during the period. GAMMA Investing LLC increased its stake in shares of Celldex Therapeutics by 6,665.9% during the first quarter. GAMMA Investing LLC now owns 2,977 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 2,933 shares during the period. Headlands Technologies LLC acquired a new position in Celldex Therapeutics during the fourth quarter worth about $81,000. KBC Group NV grew its position in Celldex Therapeutics by 79.1% during the fourth quarter. KBC Group NV now owns 3,728 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 1,647 shares during the period. Finally, AlphaQuest LLC grew its position in Celldex Therapeutics by 171.0% during the fourth quarter. AlphaQuest LLC now owns 4,287 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 2,705 shares during the period.

Celldex Therapeutics Company Profile

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, allergic, autoimmune, and other devastating diseases.