Celldex Therapeutics (NASDAQ:CLDX) Shares Down 6% – What’s Next?

by · The Markets Daily

Celldex Therapeutics, Inc. (NASDAQ:CLDX – Get Free Report)’s stock price was down 6% on Tuesday . The stock traded as low as $26.26 and last traded at $26.30. Approximately 612,116 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 851,939 shares. The stock had previously closed at $27.97.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Citigroup started coverage on shares of Celldex Therapeutics in a research report on Monday, October 7th. They issued a “buy” rating and a $70.00 target price for the company. Wolfe Research downgraded Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Friday, September 27th. Wells Fargo & Company upgraded shares of Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 26th. HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Celldex Therapeutics in a research report on Monday. Finally, The Goldman Sachs Group began coverage on Celldex Therapeutics in a report on Monday, September 30th. They issued a “neutral” rating and a $45.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $62.25.

Get Our Latest Report on Celldex Therapeutics

Celldex Therapeutics Price Performance

The firm has a 50-day simple moving average of $35.30 and a 200-day simple moving average of $36.42. The firm has a market capitalization of $1.73 billion, a PE ratio of -9.61 and a beta of 1.55.

Celldex Therapeutics (NASDAQ:CLDX – Get Free Report) last released 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 net margin of 1,809.18% and a negative return on equity of 23.66%. The company had revenue of $2.50 million for the quarter, compared to analysts’ expectations of $1.13 million. Equities analysts expect that Celldex Therapeutics, Inc. will post -2.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CLDX. Vanguard Group Inc. raised its holdings in shares of Celldex Therapeutics by 16.3% in the fourth quarter. Vanguard Group Inc. now owns 3,046,331 shares of the biopharmaceutical company’s stock worth $120,817,000 after buying an additional 427,827 shares during the period. Principal Financial Group Inc. lifted its position in shares of Celldex Therapeutics by 10.0% during the first quarter. Principal Financial Group Inc. now owns 13,153 shares of the biopharmaceutical company’s stock worth $552,000 after purchasing an additional 1,194 shares during the last quarter. Capstone Investment Advisors LLC boosted its stake in shares of Celldex Therapeutics by 50.7% during the first quarter. Capstone Investment Advisors LLC now owns 19,065 shares of the biopharmaceutical company’s stock valued at $800,000 after purchasing an additional 6,412 shares during the period. Jennison Associates LLC grew its holdings in shares of Celldex Therapeutics by 3,327.0% in the first quarter. Jennison Associates LLC now owns 688,080 shares of the biopharmaceutical company’s stock worth $28,879,000 after purchasing an additional 668,002 shares during the last quarter. Finally, Swiss National Bank increased its stake in Celldex Therapeutics by 17.8% in the 1st quarter. Swiss National Bank now owns 114,300 shares of the biopharmaceutical company’s stock worth $4,797,000 after buying an additional 17,300 shares during the period.

Celldex Therapeutics Company Profile

(Get Free Report)

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.

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