Celldex Therapeutics (NASDAQ:CLDX) Trading 2.7% Higher

Celldex Therapeutics, Inc. (NASDAQ:CLDX) was up 2.7% during trading on Wednesday . The stock traded as high as $39.81 and last traded at $39.66. Approximately 202,977 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 896,324 shares. The stock had previously closed at $38.60.

Wall Street Analysts Forecast Growth

CLDX has been the topic of a number of recent analyst reports. TD Cowen initiated coverage on Celldex Therapeutics in a report on Wednesday, December 20th. They set an “outperform” rating on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price target on shares of Celldex Therapeutics in a research report on Friday, March 22nd. Finally, Guggenheim increased their price target on Celldex Therapeutics from $72.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Celldex Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $66.00.

Celldex Therapeutics Stock Performance

The company has a market cap of $2.24 billion, a P/E ratio of -13.81 and a beta of 1.49. The stock has a 50 day moving average price of $41.98 and a 200 day moving average price of $35.68.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.19. Celldex Therapeutics had a negative net margin of 2,054.46% and a negative return on equity of 41.06%. The firm had revenue of $4.13 million for the quarter, compared to analysts’ expectations of $1.20 million. As a group, equities research analysts predict that Celldex Therapeutics, Inc. will post -2.85 earnings per share for the current year.

Institutional Trading of Celldex Therapeutics

Large investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd lifted its position in shares of Celldex Therapeutics by 57.9% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,394 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 511 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Celldex Therapeutics by 70.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,941 shares of the biopharmaceutical company’s stock valued at $53,000 after purchasing an additional 805 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Celldex Therapeutics by 604.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,178 shares of the biopharmaceutical company’s stock valued at $78,000 after purchasing an additional 1,869 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of Celldex Therapeutics by 78.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 2,782 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 1,226 shares during the period. Finally, Strs Ohio increased its stake in Celldex Therapeutics by 92.9% in the 4th quarter. Strs Ohio now owns 2,700 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 1,300 shares in the last quarter.

About Celldex Therapeutics

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.