Celldex Therapeutics (NASDAQ:CLDX) Reaches New 12-Month High – Here’s What Happened

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price hit a new 52-week high on Monday . The stock traded as high as $35.92 and last traded at $34.7520, with a volume of 41264 shares. The stock had previously closed at $35.26.

Wall Street Analyst Weigh In

CLDX has been the subject of several recent research reports. Wall Street Zen upgraded shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Monday, April 20th. Barclays lifted their price target on shares of Celldex Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. UBS Group boosted their price objective on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Finally, Wolfe Research upgraded Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Celldex Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $49.30.

Celldex Therapeutics Stock Down 0.6%

The stock has a market capitalization of $2.92 billion, a PE ratio of -8.73 and a beta of 0.95. The stock’s 50 day moving average price is $32.18 and its 200-day moving average price is $29.36.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.03). The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.80 million. On average, analysts forecast that Celldex Therapeutics, Inc. will post -4.36 earnings per share for the current year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 purchasing an additional 680 shares during the period. 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Celldex Therapeutics by 12.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,296 shares of the biopharmaceutical company’s stock valued at $2,383,000 after buying an additional 14,979 shares in the last quarter. Russell Investments Group Ltd. raised its position 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 valued at $47,000 after buying an additional 501 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Celldex Therapeutics during the second quarter valued at approximately $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.