Celldex Therapeutics (NASDAQ:CLDX) Announces Earnings Results

Celldex Therapeutics (NASDAQ:CLDX) released its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.94) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.12, FiscalAI reports. The business had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.73 million.

Celldex Therapeutics Price Performance

Shares of CLDX stock traded up $0.15 on Friday, hitting $41.71. The stock had a trading volume of 808,912 shares, compared to its average volume of 954,386. The business has a 50 day moving average of $35.19 and a 200 day moving average of $31.54. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of -9.59 and a beta of 0.87. Celldex Therapeutics has a 12-month low of $19.72 and a 12-month high of $42.92.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CLDX shares. Wall Street Zen upgraded shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Cantor Fitzgerald dropped their price target on shares of Celldex Therapeutics from $67.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Morgan Stanley lifted their price target on Celldex Therapeutics from $40.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday. Guggenheim boosted their price objective on Celldex Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, UBS Group increased their price objective on Celldex Therapeutics from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.46.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLDX. Panagora Asset Management Inc. lifted its position in shares of Celldex Therapeutics by 7.5% during the 4th quarter. Panagora Asset Management Inc. now owns 21,856 shares of the biopharmaceutical company’s stock worth $594,000 after buying an additional 1,522 shares in the last quarter. Marex Group plc purchased a new position in shares of Celldex Therapeutics in the 4th quarter worth approximately $223,000. Brevan Howard Capital Management LP bought a new position in shares of Celldex Therapeutics in the third quarter valued at approximately $372,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Celldex Therapeutics by 19.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,800 shares of the biopharmaceutical company’s stock valued at $590,000 after acquiring an additional 3,740 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Celldex Therapeutics by 218.0% during the third quarter. Russell Investments Group Ltd. now owns 7,362 shares of the biopharmaceutical company’s stock valued at $190,000 after acquiring an additional 5,047 shares during the last quarter.

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.