Celldex Therapeutics (NASDAQ:CLDX) Issues Earnings Results, Beats Expectations By $0.12 EPS

Celldex Therapeutics (NASDAQ:CLDX) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.94) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.12, FiscalAI reports. The company had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.73 million.

Celldex Therapeutics Trading Up 0.4%

Shares of NASDAQ:CLDX traded up $0.15 on Friday, hitting $41.71. 808,912 shares of the company were exchanged, compared to its average volume of 954,386. The firm has a market capitalization of $3.27 billion, a P/E ratio of -9.59 and a beta of 0.87. Celldex Therapeutics has a 1-year low of $19.72 and a 1-year high of $42.92. The stock’s 50 day moving average price is $35.19 and its 200 day moving average price is $31.54.

Institutional Investors Weigh In On Celldex Therapeutics

A number of large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Celldex Therapeutics by 1.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock valued at $798,000 after acquiring an additional 680 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Celldex Therapeutics by 327.3% during the first quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company’s stock worth $7,259,000 after purchasing an additional 306,330 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Celldex Therapeutics by 12.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,296 shares of the biopharmaceutical company’s stock valued at $2,383,000 after purchasing an additional 14,979 shares during the period. Russell Investments Group Ltd. lifted its position 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 purchasing an additional 501 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in Celldex Therapeutics in the second quarter valued at $347,000.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CLDX. Wells Fargo & Company upped their price target on shares of Celldex Therapeutics from $48.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Barclays boosted their price objective on shares of Celldex Therapeutics from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Friday, July 17th. Finally, Guggenheim lifted their price target on Celldex Therapeutics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $55.46.

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.