Celldex Therapeutics (NASDAQ:CLDX) Sees Strong Trading Volume – Still a Buy?

Celldex Therapeutics, Inc. (NASDAQ:CLDX) saw an uptick in trading volume on Wednesday . 1,071,123 shares were traded during trading, an increase of 56% from the previous session’s volume of 688,167 shares.The stock last traded at $29.11 and had previously closed at $24.84.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Wednesday, January 21st. 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. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.56.

Celldex Therapeutics Trading Up 23.3%

The company has a 50-day simple moving average of $25.41 and a 200 day simple moving average of $25.36. The company has a market cap of $2.03 billion, a P/E ratio of -9.07 and a beta of 1.24.

Institutional Investors Weigh In On Celldex Therapeutics

Several large investors have recently added to or reduced their stakes in CLDX. Aster Capital Management DIFC Ltd bought a new position in shares of Celldex Therapeutics in the 3rd quarter worth $26,000. Nisa Investment Advisors LLC grew its stake in Celldex Therapeutics by 171.7% in the second quarter. Nisa Investment Advisors LLC now owns 1,394 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 881 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Celldex Therapeutics in the 3rd quarter valued at about $42,000. Russell Investments Group Ltd. boosted its holdings in shares of Celldex Therapeutics by 27.6% in the 2nd 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 in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Celldex Therapeutics in the third quarter valued at approximately $63,000.

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.