Celldex Therapeutics (NASDAQ:CLDX) Announces Earnings Results

Celldex Therapeutics (NASDAQ:CLDX) posted its earnings results on Thursday. The biopharmaceutical company reported ($1.18) EPS 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 the consensus estimate of $0.80 million.

Celldex Therapeutics Stock Performance

Shares of CLDX stock traded up $0.65 during mid-day trading on Friday, hitting $33.97. 794,142 shares of the stock traded hands, compared to its average volume of 765,234. Celldex Therapeutics has a twelve month low of $18.20 and a twelve month high of $35.79. The company’s 50-day simple moving average is $31.69 and its 200-day simple moving average is $27.87. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -7.97 and a beta of 0.98.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 price objective (up from $58.00) on shares of Celldex Therapeutics in a research report on Thursday, February 26th. Wall Street Zen upgraded shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday. Barclays lifted their price target on Celldex Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Monday, April 20th. Finally, The Goldman Sachs Group increased their price objective on Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake in Celldex Therapeutics by 27.6% during the second quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 501 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Celldex Therapeutics by 1.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock worth $798,000 after buying an additional 680 shares during the period. Panagora Asset Management Inc. increased its position in shares of Celldex Therapeutics by 7.5% in the fourth quarter. Panagora Asset Management Inc. now owns 21,856 shares of the biopharmaceutical company’s stock worth $594,000 after acquiring an additional 1,522 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Celldex Therapeutics during the third quarter valued at approximately $42,000. Finally, Swiss National Bank lifted its position in shares of Celldex Therapeutics by 1.5% in the 3rd quarter. Swiss National Bank now owns 115,800 shares of the biopharmaceutical company’s stock valued at $2,996,000 after acquiring an additional 1,700 shares in the last quarter.

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.