Celldex Therapeutics (NASDAQ:CLDX) Sets New 12-Month High – Here’s What Happened

Celldex Therapeutics, Inc. (NASDAQ:CLDX) reached a new 52-week high on Friday . The stock traded as high as $34.76 and last traded at $34.7010, with a volume of 35672 shares trading hands. The stock had previously closed at $33.86.

Wall Street Analyst Weigh In

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

Celldex Therapeutics Stock Up 3.6%

The company has a 50-day moving average of $29.11 and a two-hundred day moving average of $27.21. The company has a market capitalization of $2.34 billion, a P/E ratio of -8.99 and a beta of 1.19.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.22). The business had revenue of $0.12 million during the quarter, compared to analyst estimates of $1.53 million. As a group, equities analysts expect that Celldex Therapeutics, Inc. will post -2.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd purchased a new position in Celldex Therapeutics during the third quarter valued at $26,000. Wilmington Savings Fund Society FSB purchased a new position in Celldex Therapeutics during the third quarter valued at $42,000. Russell Investments Group Ltd. raised 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 valued at $47,000 after buying an additional 501 shares during the last quarter. Quantbot Technologies LP purchased a new position in Celldex Therapeutics during the third quarter valued at $63,000. Finally, Strs Ohio purchased a new position in Celldex Therapeutics during the third quarter valued at $75,000.

Celldex Therapeutics Company Profile

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.