Celldex Therapeutics (NASDAQ:CLDX) Shares Down 6.5% – Here’s What Happened

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price traded down 6.5% on Tuesday . The company traded as low as $17.24 and last traded at $16.97. 47,895 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 862,677 shares. The stock had previously closed at $18.15.

Analyst Ratings Changes

CLDX has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Celldex Therapeutics in a research report on Friday, February 28th. UBS Group started coverage on shares of Celldex Therapeutics in a report on Thursday, February 13th. They set a “buy” rating and a $44.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 price target on shares of Celldex Therapeutics in a research note on Wednesday, January 29th. The Goldman Sachs Group cut their price target on shares of Celldex Therapeutics from $42.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Finally, Morgan Stanley started coverage on Celldex Therapeutics in a report on Thursday, March 20th. They issued an “overweight” rating and a $46.00 price objective on the stock. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.33.

Celldex Therapeutics Trading Down 4.4 %

The business has a fifty day moving average of $21.78 and a 200-day moving average of $26.06. The company has a market cap of $1.15 billion, a PE ratio of -6.75 and a beta of 1.76.

Celldex Therapeutics (NASDAQ:CLDX) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.71) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.02. Celldex Therapeutics had a negative return on equity of 19.75% and a negative net margin of 1,544.32%. The company had revenue of $1.18 million during the quarter, compared to the consensus estimate of $1.25 million. As a group, research analysts predict that Celldex Therapeutics, Inc. will post -2.48 EPS for the current year.

Institutional Investors Weigh In On Celldex Therapeutics

A number of large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its stake in Celldex Therapeutics by 215.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,285 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 878 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Celldex Therapeutics during the 4th quarter worth approximately $81,000. KBC Group NV raised its position in shares of Celldex Therapeutics by 79.1% in the 4th quarter. KBC Group NV now owns 3,728 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 1,647 shares in the last quarter. AlphaQuest LLC lifted its stake in shares of Celldex Therapeutics by 171.0% in the 4th quarter. AlphaQuest LLC now owns 4,287 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 2,705 shares during the period. Finally, Aquatic Capital Management LLC bought a new stake in shares of Celldex Therapeutics during the fourth quarter valued at approximately $121,000.

Celldex Therapeutics Company Profile

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.