Celldex Therapeutics (NASDAQ:CLDX) Stock Price Up 9%

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price traded up 9% during trading on Wednesday . The stock traded as high as $44.98 and last traded at $44.64. Approximately 353,031 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 774,989 shares. The stock had previously closed at $40.96.

Analyst Ratings Changes

A number of research analysts recently issued reports on CLDX shares. Wells Fargo & Company lifted their price objective on shares of Celldex Therapeutics from $35.00 to $37.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Wolfe Research restated an “outperform” rating and set a $51.00 price objective on shares of Celldex Therapeutics in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $67.00 target price on shares of Celldex Therapeutics in a research report on Monday, September 16th. Stifel Nicolaus began coverage on shares of Celldex Therapeutics in a report on Tuesday, June 18th. They issued a “buy” rating and a $58.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Celldex Therapeutics in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $63.83.

Celldex Therapeutics Stock Down 19.4 %

The company has a market capitalization of $2.19 billion, a PE ratio of -11.79 and a beta of 1.56. The company has a 50-day moving average price of $38.57 and a two-hundred day moving average price of $38.49.

Celldex Therapeutics (NASDAQ:CLDX) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.05. Celldex Therapeutics had a negative return on equity of 23.66% and a negative net margin of 1,809.18%. The business had revenue of $2.50 million during the quarter, compared to analyst estimates of $1.13 million. As a group, equities analysts anticipate that Celldex Therapeutics, Inc. will post -2.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CLDX. Price T Rowe Associates Inc. MD raised its holdings in shares of Celldex Therapeutics by 631.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,087,208 shares of the biopharmaceutical company’s stock valued at $129,571,000 after acquiring an additional 2,664,915 shares in the last quarter. Eventide Asset Management LLC lifted its position in Celldex Therapeutics by 126.9% during the fourth quarter. Eventide Asset Management LLC now owns 3,630,013 shares of the biopharmaceutical company’s stock valued at $143,966,000 after purchasing an additional 2,030,013 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Celldex Therapeutics by 105.3% in the 4th quarter. Point72 Asset Management L.P. now owns 2,756,122 shares of the biopharmaceutical company’s stock worth $109,308,000 after buying an additional 1,413,722 shares in the last quarter. Wellington Management Group LLP grew its position in Celldex Therapeutics by 19.2% in the fourth quarter. Wellington Management Group LLP now owns 6,476,561 shares of the biopharmaceutical company’s stock worth $256,860,000 after acquiring an additional 1,044,728 shares in the last quarter. Finally, Novo Holdings A S bought a new stake in Celldex Therapeutics during the second quarter worth about $31,458,000.

About Celldex Therapeutics

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.