HC Wainwright Reiterates Buy Rating for Celldex Therapeutics (NASDAQ:CLDX)

Celldex Therapeutics (NASDAQ:CLDX)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $80.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 204.08% from the company’s previous close.

A number of other research firms have also recently commented on CLDX. The Goldman Sachs Group started coverage on shares of Celldex Therapeutics in a research report on Monday, September 30th. They issued a “neutral” rating and a $45.00 price objective for the company. Wolfe Research downgraded Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Friday, September 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a report on Monday, September 16th. Wells Fargo & Company raised Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Citigroup began coverage on shares of Celldex Therapeutics in a research note on Monday, October 7th. They issued a “buy” rating and a $70.00 price target on the stock. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Celldex Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $62.25.

Celldex Therapeutics Price Performance

Shares of NASDAQ:CLDX opened at $26.31 on Wednesday. The firm’s 50 day simple moving average is $30.87 and its 200 day simple moving average is $35.08. Celldex Therapeutics has a fifty-two week low of $22.93 and a fifty-two week high of $53.18. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -10.27 and a beta of 1.60.

Insider Buying and Selling

In related news, CEO Anthony S. Marucci bought 11,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $26.82 per share, for a total transaction of $308,430.00. Following the completion of the acquisition, the chief executive officer now owns 40,284 shares of the company’s stock, valued at approximately $1,080,416.88. The trade was a 39.95 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Celldex Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CLDX. KBC Group NV lifted its stake in Celldex Therapeutics by 31.2% in the third quarter. KBC Group NV now owns 2,081 shares of the biopharmaceutical company’s stock valued at $71,000 after acquiring an additional 495 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Celldex Therapeutics during the second quarter worth about $76,000. CANADA LIFE ASSURANCE Co increased its position in Celldex Therapeutics by 26.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock worth $192,000 after buying an additional 955 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Celldex Therapeutics by 34.3% during the first quarter. Ameritas Investment Partners Inc. now owns 6,198 shares of the biopharmaceutical company’s stock worth $260,000 after buying an additional 1,582 shares during the last quarter. Finally, Quest Partners LLC raised its stake in Celldex Therapeutics by 1,364.9% in the second quarter. Quest Partners LLC now owns 7,383 shares of the biopharmaceutical company’s stock valued at $273,000 after buying an additional 6,879 shares during the period.

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.