Celldex Therapeutics (NASDAQ:CLDX) Stock Price Down 5%

Celldex Therapeutics, Inc. (NASDAQ:CLDX) dropped 5% during mid-day trading on Wednesday . The stock traded as low as $30.66 and last traded at $30.77. Approximately 241,552 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 853,811 shares. The stock had previously closed at $32.40.

Analyst Ratings Changes

A number of research analysts have recently commented on CLDX shares. Wells Fargo & Company raised Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group began coverage on Celldex Therapeutics in a research report on Monday. They issued a “neutral” rating and a $45.00 price objective on the stock. Stifel Nicolaus started coverage on shares of Celldex Therapeutics in a research note on Tuesday, June 18th. They set a “buy” rating and a $58.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 price target on shares of Celldex Therapeutics in a report on Monday, September 16th. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Celldex Therapeutics in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.14.

Celldex Therapeutics Trading Down 6.6 %

The firm’s fifty day moving average price is $38.17 and its 200 day moving average price is $38.11. The firm has a market capitalization of $2.01 billion, a PE ratio of -11.37 and a beta of 1.56.

Celldex Therapeutics (NASDAQ:CLDX) last issued 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. The business had revenue of $2.50 million during the quarter, compared to the consensus estimate of $1.13 million. Celldex Therapeutics had a negative net margin of 1,809.18% and a negative return on equity of 23.66%. On average, analysts predict that Celldex Therapeutics, Inc. will post -2.5 earnings per share for the current year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Celldex Therapeutics in the second quarter worth approximately $76,000. Headlands Technologies LLC purchased a new stake in shares of Celldex Therapeutics during the first quarter worth $147,000. CANADA LIFE ASSURANCE Co raised its position in shares of Celldex Therapeutics by 26.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock valued at $192,000 after buying an additional 955 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Celldex Therapeutics by 34.3% in 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 in the last quarter. Finally, Quest Partners LLC boosted its stake in Celldex Therapeutics by 1,364.9% during the second quarter. Quest Partners LLC now owns 7,383 shares of the biopharmaceutical company’s stock worth $273,000 after buying 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.