Short Interest in Celldex Therapeutics, Inc. (NASDAQ:CLDX) Decreases By 20.9%

Celldex Therapeutics, Inc. (NASDAQ:CLDX) was the recipient of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totaling 6,865,432 shares, a decrease of 20.9% from the November 30th total of 8,675,509 shares. Based on an average daily trading volume, of 868,859 shares, the short-interest ratio is currently 7.9 days. Approximately 10.8% of the shares of the stock are short sold. Approximately 10.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 868,859 shares, the short-interest ratio is currently 7.9 days.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CLDX shares. Mizuho assumed coverage on shares of Celldex Therapeutics in a research report on Tuesday, October 21st. They set an “outperform” rating and a $48.00 price target on the stock. Barclays lifted their target price on shares of Celldex Therapeutics from $21.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, December 17th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $62.00 price target on shares of Celldex Therapeutics in a research note on Wednesday, September 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.10.

Celldex Therapeutics Stock Performance

Shares of CLDX traded up $0.73 on Wednesday, hitting $27.16. 722,469 shares of the stock traded hands, compared to its average volume of 755,475. Celldex Therapeutics has a one year low of $14.40 and a one year high of $30.50. The company has a market capitalization of $1.80 billion, a PE ratio of -8.04 and a beta of 1.13. The business has a 50 day simple moving average of $26.22 and a 200 day simple moving average of $24.43.

Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results on Monday, November 10th. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.13). Celldex Therapeutics had a negative net margin of 3,446.88% and a negative return on equity of 33.22%. On average, equities analysts expect that Celldex Therapeutics will post -2.48 earnings per share for the current year.

Insider Activity

In other news, insider Richard M. Wright sold 49,298 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $24.00, for a total value of $1,183,152.00. Following the transaction, the insider owned 20,833 shares of the company’s stock, valued at approximately $499,992. This represents a 70.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Celldex Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd purchased a new stake in Celldex Therapeutics in the 3rd quarter worth $26,000. Nisa Investment Advisors LLC grew its position in shares of Celldex Therapeutics by 171.7% during the second quarter. Nisa Investment Advisors LLC now owns 1,394 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 881 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Celldex Therapeutics during the 3rd quarter valued at approximately $42,000. Russell Investments Group Ltd. lifted its holdings in Celldex Therapeutics by 27.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 501 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Celldex Therapeutics in the 3rd quarter worth approximately $63,000.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted immunotherapies for cancer and other serious diseases. The company’s research platforms leverage novel antibody and vaccine technologies designed to engage the patient’s immune system, with a particular emphasis on oncology and neurologic indications. Celldex’s pipeline includes both monoclonal antibodies and biologic agents that seek to modulate immune responses or deliver targeted cytotoxic activity.

Among Celldex’s lead product candidates is glembatumumab vedotin, an antibody–drug conjugate directed against the glycoprotein NMB (gpNMB) for the treatment of certain breast and skin cancers.