Wall Street Zen Upgrades Celldex Therapeutics (NASDAQ:CLDX) to Sell

Celldex Therapeutics (NASDAQ:CLDX) was upgraded by research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Sunday.

Several other equities analysts also recently issued reports on CLDX. UBS Group upped their price objective on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Monday, April 20th. HC Wainwright reissued a “buy” rating and issued a $42.00 target price on shares of Celldex Therapeutics in a report on Monday, June 15th. Barclays upped their target price on Celldex Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company lifted their price target on Celldex Therapeutics from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Celldex Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $49.30.

Celldex Therapeutics Stock Performance

CLDX stock traded up $0.13 during midday trading on Friday, reaching $39.11. 694,010 shares of the company were exchanged, compared to its average volume of 1,288,631. The company has a market cap of $3.07 billion, a price-to-earnings ratio of -9.18 and a beta of 0.90. Celldex Therapeutics has a 1-year low of $19.72 and a 1-year high of $40.30. The stock’s 50-day simple moving average is $32.98 and its 200 day simple moving average is $30.02.

Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.15) by ($0.03). The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.80 million. On average, research analysts anticipate that Celldex Therapeutics will post -4.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CLDX. Wellington Management Group LLP boosted its stake in shares of Celldex Therapeutics by 39.3% during the fourth quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company’s stock worth $219,442,000 after buying an additional 2,279,605 shares during the period. Vanguard Group Inc. increased its position in Celldex Therapeutics by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 4,027,407 shares of the biopharmaceutical company’s stock valued at $109,384,000 after acquiring an additional 72,817 shares during the period. Bellevue Group AG raised its stake in Celldex Therapeutics by 7.6% during the 3rd quarter. Bellevue Group AG now owns 3,557,669 shares of the biopharmaceutical company’s stock valued at $92,037,000 after acquiring an additional 250,100 shares during the last quarter. Commodore Capital LP raised its stake in Celldex Therapeutics by 7.8% during 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 during the last quarter. Finally, State Street Corp lifted its position in Celldex Therapeutics by 19.5% during the 4th quarter. State Street Corp now owns 3,397,713 shares of the biopharmaceutical company’s stock worth $92,282,000 after acquiring an additional 555,579 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.