Envestnet Asset Management Inc. Makes New $861,000 Investment in Celldex Therapeutics, Inc. $CLDX

Envestnet Asset Management Inc. acquired a new stake in shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 42,287 shares of the biopharmaceutical company’s stock, valued at approximately $861,000.

A number of other hedge funds have also modified their holdings of the stock. Nisa Investment Advisors LLC raised its position in shares of Celldex Therapeutics by 171.7% during the second quarter. Nisa Investment Advisors LLC now owns 1,394 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 881 shares during the period. AlphaQuest LLC raised its holdings in Celldex Therapeutics by 182.5% during the 1st quarter. AlphaQuest LLC now owns 12,112 shares of the biopharmaceutical company’s stock worth $220,000 after buying an additional 7,825 shares during the period. ADAR1 Capital Management LLC acquired a new stake in Celldex Therapeutics during the 1st quarter worth about $265,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Celldex Therapeutics during the first quarter valued at about $269,000. Finally, Jump Financial LLC boosted its holdings in shares of Celldex Therapeutics by 16.6% in the first quarter. Jump Financial LLC now owns 19,248 shares of the biopharmaceutical company’s stock worth $349,000 after buying an additional 2,735 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citigroup cut their price target on shares of Celldex Therapeutics from $56.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Mizuho initiated coverage on shares of Celldex Therapeutics in a research report on Tuesday, October 21st. They set an “outperform” rating and a $48.00 price objective on the stock. Wells Fargo & Company reduced their target price on Celldex Therapeutics from $44.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $62.00 target price on shares of Celldex Therapeutics in a research report on Wednesday, September 17th. Finally, Barclays lowered their price target on Celldex Therapeutics from $25.00 to $21.00 and set an “underweight” rating on the stock in a report on Tuesday, November 11th. One equities research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, Celldex Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $43.80.

Celldex Therapeutics Stock Up 3.4%

Shares of NASDAQ:CLDX opened at $25.92 on Friday. The firm has a fifty day moving average of $25.66 and a two-hundred day moving average of $23.05. Celldex Therapeutics, Inc. has a 12-month low of $14.40 and a 12-month high of $29.05. The firm has a market capitalization of $1.72 billion, a P/E ratio of -8.61 and a beta of 1.36.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings data on Monday, November 10th. The biopharmaceutical company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.13). Celldex Therapeutics had a negative return on equity of 27.61% and a negative net margin of 3,446.88%. Equities research analysts expect that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Richard M. Wright sold 49,298 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $24.00, for a total value of $1,183,152.00. Following the completion of the sale, the insider owned 20,833 shares of the company’s stock, valued at approximately $499,992. The trade was a 70.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.40% of the stock is currently owned by corporate insiders.

About Celldex Therapeutics

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.