Celldex Therapeutics (NASDAQ:CLDX) Reaches New 12-Month Low – Here’s What Happened

Celldex Therapeutics, Inc. (NASDAQ:CLDX) reached a new 52-week low during trading on Monday . The stock traded as low as $22.91 and last traded at $23.02, with a volume of 65458 shares changing hands. The stock had previously closed at $24.35.

Wall Street Analyst Weigh In

CLDX has been the subject of several recent analyst reports. Wells Fargo & Company raised Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 price objective on shares of Celldex Therapeutics in a report on Thursday, January 2nd. Wolfe Research downgraded Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Friday, September 27th. The Goldman Sachs Group assumed coverage on Celldex Therapeutics in a report on Monday, September 30th. They issued a “neutral” rating and a $45.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 price target on shares of Celldex Therapeutics in a research note on Thursday, December 19th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Celldex Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.25.

Celldex Therapeutics Trading Down 4.8 %

The stock has a market cap of $1.54 billion, a P/E ratio of -9.02 and a beta of 1.62. The firm has a 50-day simple moving average of $26.10 and a two-hundred day simple moving average of $32.34.

Insiders Place Their Bets

In related news, CEO Anthony S. Marucci purchased 11,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average price of $26.82 per share, for a total transaction of $308,430.00. Following the completion of the transaction, the chief executive officer now owns 40,284 shares of the company’s stock, valued at approximately $1,080,416.88. This trade represents a 39.95 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. KBC Group NV increased its position in shares of Celldex Therapeutics by 31.2% in the third quarter. KBC Group NV now owns 2,081 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 495 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Celldex Therapeutics in the second quarter worth $76,000. Los Angeles Capital Management LLC increased its position in shares of Celldex Therapeutics by 9.5% in the second quarter. Los Angeles Capital Management LLC now owns 7,371 shares of the biopharmaceutical company’s stock worth $273,000 after purchasing an additional 638 shares during the period. Quest Partners LLC increased its position in shares of Celldex Therapeutics by 1,364.9% in the second 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 period. Finally, AQR Capital Management LLC increased its position in shares of Celldex Therapeutics by 23.7% in the second quarter. AQR Capital Management LLC now owns 7,857 shares of the biopharmaceutical company’s stock worth $291,000 after purchasing an additional 1,504 shares during the period.

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.