Redmile Group LLC Sells 21,800 Shares of Celldex Therapeutics, Inc. $CLDX

Redmile Group LLC cut its stake in shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) by 7.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 261,508 shares of the biopharmaceutical company’s stock after selling 21,800 shares during the quarter. Celldex Therapeutics makes up about 0.5% of Redmile Group LLC’s holdings, making the stock its 24th largest holding. Redmile Group LLC’s holdings in Celldex Therapeutics were worth $8,295,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CLDX. Wellington Management Group LLP boosted its stake in shares of Celldex Therapeutics by 39.3% in the 4th quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company’s stock worth $219,442,000 after buying an additional 2,279,605 shares during the last quarter. Vanguard Group Inc. increased its position in Celldex Therapeutics by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 4,027,407 shares of the biopharmaceutical company’s stock valued at $109,384,000 after acquiring an additional 72,817 shares during the last quarter. Bellevue Group AG lifted its holdings in Celldex Therapeutics by 7.6% in the third quarter. Bellevue Group AG now owns 3,557,669 shares of the biopharmaceutical company’s stock valued at $92,037,000 after acquiring an additional 250,100 shares during the period. Commodore Capital LP lifted its holdings in Celldex Therapeutics by 7.8% in the second quarter. Commodore Capital LP now owns 3,450,000 shares of the biopharmaceutical company’s stock valued at $70,208,000 after acquiring an additional 250,000 shares during the period. Finally, State Street Corp boosted its position in Celldex Therapeutics by 19.5% in the fourth quarter. State Street Corp now owns 3,397,713 shares of the biopharmaceutical company’s stock worth $92,282,000 after purchasing an additional 555,579 shares during the last quarter.

Celldex Therapeutics Stock Performance

NASDAQ CLDX opened at $35.58 on Wednesday. The business’s fifty day moving average is $33.86 and its 200 day moving average is $30.83. Celldex Therapeutics, Inc. has a fifty-two week low of $19.72 and a fifty-two week high of $40.30. The company has a market capitalization of $2.79 billion, a PE ratio of -8.35 and a beta of 0.90.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. UBS Group boosted their price target on Celldex Therapeutics from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Friday, July 17th. Barclays raised their price objective on shares of Celldex Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Cantor Fitzgerald cut their target price on shares of Celldex Therapeutics from $67.00 to $61.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $42.00 target price on shares of Celldex Therapeutics in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.77.

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.