Celldex Therapeutics (NASDAQ:CLDX) Hits New 1-Year High – Here’s Why

Celldex Therapeutics, Inc. (NASDAQ:CLDX) reached a new 52-week high on Thursday . The stock traded as high as $29.40 and last traded at $29.4580, with a volume of 176251 shares changing hands. The stock had previously closed at $27.81.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CLDX shares. Mizuho initiated coverage on Celldex Therapeutics in a research note on Tuesday, October 21st. They issued an “outperform” rating and a $48.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of Celldex Therapeutics from $44.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. HC Wainwright lowered their price target on shares of Celldex Therapeutics from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Wednesday, October 8th. Finally, Barclays reduced their price objective on shares of Celldex Therapeutics from $25.00 to $21.00 and set an “underweight” rating for the company in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.80.

Celldex Therapeutics Trading Down 0.5%

The firm’s 50 day simple moving average is $26.12 and its 200 day simple moving average is $23.56. The firm has a market cap of $1.96 billion, a PE ratio of -8.71 and a beta of 1.13.

Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results 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 33.22% and a negative net margin of 3,446.88%. As a group, equities research analysts predict that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Celldex Therapeutics

In other news, insider Richard M. Wright sold 49,298 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $24.00, for a total transaction of $1,183,152.00. Following the sale, the insider directly owned 20,833 shares in the company, valued at approximately $499,992. This represents a 70.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Celldex Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLDX. Aster Capital Management DIFC Ltd purchased a new stake in shares of Celldex Therapeutics in the third quarter valued at $26,000. Nisa Investment Advisors LLC raised its position in Celldex Therapeutics by 171.7% in the 2nd 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. Wilmington Savings Fund Society FSB bought a new stake in Celldex Therapeutics in the third quarter worth about $42,000. Russell Investments Group Ltd. boosted its position in shares of 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 buying an additional 501 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Celldex Therapeutics during the third quarter valued at approximately $63,000.

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.