Celldex Therapeutics (NASDAQ:CLDX) Trading 3.2% Higher

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price shot up 3.2% during mid-day trading on Wednesday . The stock traded as high as $42.59 and last traded at $42.56. 11,587 shares changed hands during trading, a decline of 98% from the average session volume of 767,168 shares. The stock had previously closed at $41.24.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CLDX shares. Wells Fargo & Company increased 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. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Celldex Therapeutics in a report on Monday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a research note on Monday. Wolfe Research initiated coverage on Celldex Therapeutics in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $51.00 target price on the stock. Finally, Stifel Nicolaus assumed coverage on Celldex Therapeutics in a report on Tuesday, June 18th. They set a “buy” rating and a $58.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Celldex Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $63.83.

Celldex Therapeutics Trading Up 4.6 %

The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -14.47 and a beta of 1.56. The company’s 50 day simple moving average is $38.35 and its 200-day simple moving average is $38.76.

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

Institutional Investors Weigh In On Celldex Therapeutics

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP increased its position in Celldex Therapeutics by 19.2% during the fourth quarter. Wellington Management Group LLP now owns 6,476,561 shares of the biopharmaceutical company’s stock worth $256,860,000 after purchasing an additional 1,044,728 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Celldex Therapeutics by 19.8% during the 1st quarter. Vanguard Group Inc. now owns 3,650,582 shares of the biopharmaceutical company’s stock valued at $153,215,000 after buying an additional 604,251 shares during the period. Eventide Asset Management LLC increased its holdings in shares of Celldex Therapeutics by 126.9% during the 4th quarter. Eventide Asset Management LLC now owns 3,630,013 shares of the biopharmaceutical company’s stock worth $143,966,000 after buying an additional 2,030,013 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position 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 worth $129,571,000 after buying an additional 2,664,915 shares during the period. Finally, Bellevue Group AG boosted its holdings in Celldex Therapeutics by 15.7% in the first quarter. Bellevue Group AG now owns 2,796,615 shares of the biopharmaceutical company’s stock valued at $117,374,000 after acquiring an additional 380,319 shares during the last quarter.

Celldex Therapeutics Company Profile

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.