Celldex Therapeutics (NASDAQ:CLDX) Reaches New 1-Year Low – What’s Next?

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $17.86 and last traded at $18.23, with a volume of 112863 shares changing hands. The stock had previously closed at $19.93.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CLDX shares. UBS Group began coverage on Celldex Therapeutics in a research report on Thursday, February 13th. They set a “buy” rating and a $44.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 target price on shares of Celldex Therapeutics in a report on Wednesday, January 29th. Morgan Stanley started coverage on Celldex Therapeutics in a report on Thursday, March 20th. They issued an “overweight” rating and a $46.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Celldex Therapeutics in a report on Friday, February 28th. Finally, The Goldman Sachs Group dropped their target price on shares of Celldex Therapeutics from $42.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.33.

Celldex Therapeutics Stock Performance

The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -6.88 and a beta of 1.76. The business’s 50-day simple moving average is $21.90 and its 200-day simple moving average is $26.23.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.02. Celldex Therapeutics had a negative net margin of 1,544.32% and a negative return on equity of 19.75%. The business had revenue of $1.18 million for the quarter, compared to analyst estimates of $1.25 million. On average, analysts forecast that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CLDX. EverSource Wealth Advisors LLC lifted its stake in Celldex Therapeutics by 215.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,285 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 878 shares during the period. Headlands Technologies LLC acquired a new position in shares of Celldex Therapeutics during the 4th quarter worth about $81,000. KBC Group NV increased its stake in shares of Celldex Therapeutics by 79.1% in the 4th quarter. KBC Group NV now owns 3,728 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 1,647 shares during the last quarter. AlphaQuest LLC raised its position in shares of Celldex Therapeutics by 171.0% in the 4th quarter. AlphaQuest LLC now owns 4,287 shares of the biopharmaceutical company’s stock valued at $108,000 after acquiring an additional 2,705 shares during the period. Finally, Aquatic Capital Management LLC bought a new position in Celldex Therapeutics during the 4th quarter worth approximately $121,000.

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.