Celldex Therapeutics (NASDAQ:CLDX) Announces Earnings Results

Celldex Therapeutics (NASDAQ:CLDX) posted its earnings results on Thursday. The biopharmaceutical company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($1.15) by ($0.03), FiscalAI reports. The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.80 million.

Celldex Therapeutics Price Performance

NASDAQ CLDX traded up $0.65 on Friday, hitting $33.97. 794,142 shares of the company’s stock were exchanged, compared to its average volume of 765,234. The firm’s 50-day moving average price is $31.69 and its two-hundred day moving average price is $27.87. Celldex Therapeutics has a fifty-two week low of $18.20 and a fifty-two week high of $35.79. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -7.97 and a beta of 0.98.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CLDX shares. Wall Street Zen raised Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 price objective (up from $58.00) on shares of Celldex Therapeutics in a research note on Thursday, February 26th. Barclays boosted their target price on Celldex Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday. The Goldman Sachs Group boosted their target price on Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Finally, Wolfe Research upgraded Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research report on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Celldex Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $48.00.

Institutional Investors Weigh In On Celldex Therapeutics

A number of large investors have recently bought and sold shares of CLDX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Celldex Therapeutics by 1.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock valued at $798,000 after buying an additional 680 shares during the last quarter. Millennium Management LLC grew its holdings in Celldex Therapeutics by 327.3% during the 1st quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company’s stock valued at $7,259,000 after buying an additional 306,330 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Celldex Therapeutics by 12.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,296 shares of the biopharmaceutical company’s stock worth $2,383,000 after purchasing an additional 14,979 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Celldex Therapeutics by 27.6% during the second 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 during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Celldex Therapeutics during the second quarter worth $347,000.

About Celldex Therapeutics

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.