Celldex Therapeutics (NASDAQ:CLDX) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Celldex Therapeutics, Inc. (NASDAQ:CLDX) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.57 and traded as high as $30.67. Celldex Therapeutics shares last traded at $29.48, with a volume of 650,121 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Stifel Nicolaus restated a “buy” rating and issued a $68.00 price target (up from $58.00) on shares of Celldex Therapeutics in a research report on Thursday, February 26th. Barclays raised their price target on Celldex Therapeutics from $21.00 to $24.00 and gave the company an “underweight” rating in a report on Wednesday, December 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Wednesday, January 21st. The Goldman Sachs Group increased their price target on shares of Celldex Therapeutics from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Finally, Wolfe Research upgraded Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Celldex Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $44.45.

Celldex Therapeutics Stock Performance

The company has a fifty day moving average price of $27.50 and a two-hundred day moving average price of $26.65. The company has a market cap of $2.08 billion, a P/E ratio of -8.04 and a beta of 1.19.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.22). The company had revenue of $0.12 million for the quarter, compared to analyst estimates of $1.53 million. Research analysts anticipate that Celldex Therapeutics, Inc. will post -2.48 EPS for the current year.

Institutional Investors Weigh In On Celldex Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its stake in Celldex Therapeutics by 27.6% during the second quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 501 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Celldex Therapeutics by 1.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock worth $798,000 after buying an additional 680 shares during the last quarter. ProShare Advisors LLC lifted its position in Celldex Therapeutics by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 11,973 shares of the biopharmaceutical company’s stock valued at $325,000 after acquiring an additional 773 shares in the last quarter. DNB Asset Management AS lifted its holdings in shares of Celldex Therapeutics by 7.7% in the third quarter. DNB Asset Management AS now owns 13,251 shares of the biopharmaceutical company’s stock valued at $343,000 after purchasing an additional 951 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in Celldex Therapeutics during the 3rd quarter worth $26,000.

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.