Celldex Therapeutics, Inc. (NASDAQ:CLDX) Sees Large Drop in Short Interest

Celldex Therapeutics, Inc. (NASDAQ:CLDX) was the target of a large decrease in short interest in May. As of May 31st, there was short interest totalling 6,270,000 shares, a decrease of 5.3% from the May 15th total of 6,620,000 shares. Based on an average trading volume of 691,800 shares, the days-to-cover ratio is presently 9.1 days.

Insider Transactions at Celldex Therapeutics

In other news, VP Elizabeth Crowley sold 38,597 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $33.64, for a total transaction of $1,298,403.08. Following the completion of the transaction, the vice president now directly owns 9,074 shares of the company’s stock, valued at approximately $305,249.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Diane C. Young sold 45,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $35.26, for a total value of $1,586,700.00. Following the completion of the sale, the senior vice president now directly owns 2,115 shares of the company’s stock, valued at approximately $74,574.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Elizabeth Crowley sold 38,597 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $33.64, for a total value of $1,298,403.08. Following the completion of the sale, the vice president now directly owns 9,074 shares of the company’s stock, valued at $305,249.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 266,332 shares of company stock valued at $9,155,821. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Celldex Therapeutics

A number of large investors have recently modified their holdings of CLDX. New York State Common Retirement Fund grew its holdings in shares of Celldex Therapeutics by 3.6% in the 3rd quarter. New York State Common Retirement Fund now owns 23,780 shares of the biopharmaceutical company’s stock worth $654,000 after acquiring an additional 821 shares during the period. Swiss National Bank grew its holdings in shares of Celldex Therapeutics by 1.0% in the 3rd quarter. Swiss National Bank now owns 88,300 shares of the biopharmaceutical company’s stock worth $2,430,000 after acquiring an additional 900 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Celldex Therapeutics by 4.6% in the 4th quarter. Fisher Asset Management LLC now owns 21,492 shares of the biopharmaceutical company’s stock worth $852,000 after acquiring an additional 954 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of Celldex Therapeutics by 26.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock worth $192,000 after acquiring an additional 955 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Celldex Therapeutics by 3.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,258 shares of the biopharmaceutical company’s stock worth $1,041,000 after acquiring an additional 962 shares during the period.

Celldex Therapeutics Price Performance

Shares of CLDX stock opened at $34.66 on Wednesday. The stock has a 50 day simple moving average of $37.54 and a 200-day simple moving average of $39.06. Celldex Therapeutics has a 12-month low of $22.11 and a 12-month high of $53.18.

Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results on Monday, May 6th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.11. The business had revenue of $0.16 million during the quarter, compared to the consensus estimate of $1.30 million. Celldex Therapeutics had a negative return on equity of 29.55% and a negative net margin of 2,385.57%. Sell-side analysts expect that Celldex Therapeutics will post -2.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CLDX. Stifel Nicolaus began coverage on Celldex Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $58.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a research note on Tuesday. Wolfe Research initiated coverage on Celldex Therapeutics in a research note on Tuesday, June 11th. They set an “outperform” rating and a $51.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Celldex Therapeutics in a research note on Monday, June 3rd. Finally, Guggenheim upped their price objective on Celldex Therapeutics from $72.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.17.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.