Celldex Therapeutics (NASDAQ:CLDX) Trading Down 6.9%

Celldex Therapeutics, Inc. (NASDAQ:CLDX) dropped 6.9% during mid-day trading on Thursday . The company traded as low as $32.96 and last traded at $33.55. Approximately 753,920 shares were traded during trading, a decline of 10% from the average daily volume of 839,285 shares. The stock had previously closed at $36.02.

Analyst Upgrades and Downgrades

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

Celldex Therapeutics Stock Performance

The stock has a market cap of $2.23 billion, a PE ratio of -12.64 and a beta of 1.56. The stock’s 50-day moving average is $38.51 and its two-hundred day moving average is $38.47.

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

Hedge Funds Weigh In On Celldex Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLDX. Point72 Asia Singapore Pte. Ltd. purchased a new position in Celldex Therapeutics in the 2nd quarter valued at approximately $76,000. Headlands Technologies LLC purchased a new stake in shares of Celldex Therapeutics during the 1st quarter worth $147,000. CANADA LIFE ASSURANCE Co lifted its position in shares of Celldex Therapeutics by 26.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock worth $192,000 after purchasing an additional 955 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Celldex Therapeutics by 34.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,198 shares of the biopharmaceutical company’s stock worth $260,000 after purchasing an additional 1,582 shares during the last quarter. Finally, Quest Partners LLC lifted its position in shares of Celldex Therapeutics by 1,364.9% during the 2nd quarter. Quest Partners LLC now owns 7,383 shares of the biopharmaceutical company’s stock worth $273,000 after purchasing an additional 6,879 shares during the last quarter.

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.