Celldex Therapeutics (CLDX) Sets New 52-Week Low at $0.40

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) reached a new 52-week low on Thursday . The stock traded as low as $0.40 and last traded at $0.40, with a volume of 145448 shares trading hands. The stock had previously closed at $0.42.

A number of brokerages have commented on CLDX. Zacks Investment Research upgraded shares of Celldex Therapeutics from a “hold” rating to a “buy” rating and set a $0.75 price target for the company in a research note on Tuesday, June 19th. HC Wainwright set a $2.00 price target on shares of Celldex Therapeutics and gave the company a “buy” rating in a research note on Thursday, August 9th. Cowen restated a “hold” rating on shares of Celldex Therapeutics in a research note on Thursday, August 9th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Celldex Therapeutics in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Celldex Therapeutics currently has an average rating of “Hold” and an average target price of $3.75.

The company has a market cap of $73.26 million, a P/E ratio of -0.53 and a beta of 2.29.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.03. The business had revenue of $2.76 million during the quarter, compared to analyst estimates of $2.70 million. Celldex Therapeutics had a negative net margin of 1,159.26% and a negative return on equity of 47.40%. Equities analysts anticipate that Celldex Therapeutics, Inc. will post -0.44 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. Paloma Partners Management Co boosted its holdings in Celldex Therapeutics by 5,357.8% during the 2nd quarter. Paloma Partners Management Co now owns 640,799 shares of the biopharmaceutical company’s stock worth $323,000 after acquiring an additional 629,058 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Celldex Therapeutics by 2,633.4% during the 2nd quarter. Renaissance Technologies LLC now owns 4,220,687 shares of the biopharmaceutical company’s stock worth $2,126,000 after acquiring an additional 4,066,273 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Celldex Therapeutics during the 2nd quarter worth $322,000. LMR Partners LLP purchased a new position in Celldex Therapeutics during the 2nd quarter worth $206,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Celldex Therapeutics by 27.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 900,185 shares of the biopharmaceutical company’s stock worth $453,000 after acquiring an additional 195,147 shares during the last quarter. Institutional investors and hedge funds own 33.54% of the company’s stock.

About Celldex Therapeutics (NASDAQ:CLDX)

Celldex Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of various immunotherapy technologies and other cancer-targeting biologics. Its drug candidates include glembatumumab vedotin, an antibody-drug that is in Phase IIb study for the treatment of triple negative breast cancer and a Phase II study for the treatment of metastatic melanoma; Varlilumab, an immune modulating antibody that is in a Phase 1 study designed to enhance a patient's immune response against cancer; and CDX-3379, a human monoclonal antibody that is in Phase II study in combination with cetuximab for the treatment of head and neck squamous cell carcinoma.

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