Celldex Therapeutics (NASDAQ:CLDX) Trading 4.1% Higher – Should You Buy?

Celldex Therapeutics, Inc. (NASDAQ:CLDX) was up 4.1% during mid-day trading on Wednesday . The company traded as high as $27.46 and last traded at $27.52. Approximately 215,440 shares changed hands during trading, a decline of 78% from the average daily volume of 981,881 shares. The stock had previously closed at $26.43.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $62.00 price target on shares of Celldex Therapeutics in a research report on Wednesday, September 17th. Barclays lifted their target price on Celldex Therapeutics from $21.00 to $24.00 and gave the stock an “underweight” rating in a report on Wednesday, December 17th. Mizuho initiated coverage on Celldex Therapeutics in a research note on Tuesday, October 21st. They set an “outperform” rating and a $48.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.10.

Celldex Therapeutics Stock Performance

The firm has a market cap of $1.80 billion, a P/E ratio of -8.03 and a beta of 1.13. The firm’s fifty day moving average is $26.21 and its 200 day moving average is $24.42.

Celldex Therapeutics (NASDAQ:CLDX) last posted its earnings results on Monday, November 10th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates 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 forecast that Celldex Therapeutics, Inc. will post -2.48 EPS for the current year.

Insiders Place Their Bets

In other Celldex Therapeutics news, insider Richard M. Wright sold 49,298 shares of the business’s stock in a transaction on 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 owned 20,833 shares of the company’s stock, valued at approximately $499,992. The trade was a 70.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.40% of the stock is owned by corporate insiders.

Institutional Trading of Celldex Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CLDX. Wellington Management Group LLP increased its position in shares of Celldex Therapeutics by 10.8% during the third quarter. Wellington Management Group LLP now owns 5,800,003 shares of the biopharmaceutical company’s stock worth $150,046,000 after buying an additional 567,677 shares during the period. Bellevue Group AG grew its position in shares of Celldex Therapeutics by 7.6% during the 3rd quarter. Bellevue Group AG now owns 3,557,669 shares of the biopharmaceutical company’s stock worth $92,037,000 after buying an additional 250,100 shares during the period. Commodore Capital LP increased its stake in shares of Celldex Therapeutics by 7.8% in the 2nd quarter. Commodore Capital LP now owns 3,450,000 shares of the biopharmaceutical company’s stock valued at $70,208,000 after acquiring an additional 250,000 shares in the last quarter. Eventide Asset Management LLC increased its stake in shares of Celldex Therapeutics by 37.1% in the 3rd quarter. Eventide Asset Management LLC now owns 1,859,095 shares of the biopharmaceutical company’s stock valued at $48,096,000 after acquiring an additional 502,909 shares in the last quarter. Finally, Vestal Point Capital LP lifted its position in shares of Celldex Therapeutics by 781.0% during the 2nd quarter. Vestal Point Capital LP now owns 1,750,000 shares of the biopharmaceutical company’s stock valued at $35,612,000 after acquiring an additional 1,551,354 shares during the period.

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.