Celldex Therapeutics (NASDAQ:CLDX) Reaches New 52-Week Low – What’s Next?

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $24.34 and last traded at $24.37, with a volume of 224617 shares trading hands. The stock had previously closed at $25.74.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Celldex Therapeutics in a research note on Thursday, November 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 price target on shares of Celldex Therapeutics in a research note on Monday, September 16th. Wells Fargo & Company upgraded shares of Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 26th. Wolfe Research downgraded shares of Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 27th. Finally, Citigroup initiated coverage on shares of Celldex Therapeutics in a research report on Monday, October 7th. They set a “buy” rating and a $70.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Celldex Therapeutics has an average rating of “Moderate Buy” and an average target price of $62.25.

Celldex Therapeutics Price Performance

The business has a fifty day moving average of $32.30 and a 200-day moving average of $35.53. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -9.56 and a beta of 1.60.

Insider Activity

In other news, CEO Anthony S. Marucci bought 11,500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average cost of $26.82 per share, for a total transaction of $308,430.00. Following the completion of the purchase, the chief executive officer now owns 40,284 shares of the company’s stock, valued at $1,080,416.88. This trade represents a 39.95 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CLDX. KBC Group NV boosted its holdings in Celldex Therapeutics by 31.2% in the third quarter. KBC Group NV now owns 2,081 shares of the biopharmaceutical company’s stock valued at $71,000 after acquiring an additional 495 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Celldex Therapeutics in the second quarter valued at approximately $76,000. CANADA LIFE ASSURANCE Co grew its stake in Celldex Therapeutics by 26.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock valued at $192,000 after purchasing an additional 955 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Celldex Therapeutics by 34.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,198 shares of the biopharmaceutical company’s stock worth $260,000 after acquiring an additional 1,582 shares during the period. Finally, Quest Partners LLC boosted its stake in shares of Celldex Therapeutics by 1,364.9% during the 2nd quarter. Quest Partners LLC now owns 7,383 shares of the biopharmaceutical company’s stock worth $273,000 after acquiring an additional 6,879 shares during the period.

About Celldex Therapeutics

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.