Celldex Therapeutics (NASDAQ:CLDX) Stock Price Down 5.1% – What’s Next?

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) fell 5.1% during trading on Tuesday . The stock traded as low as $26.53 and last traded at $26.70. 195,982 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 873,433 shares. The stock had previously closed at $28.14.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CLDX. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 price objective on shares of Celldex Therapeutics in a report on Monday, September 16th. Wells Fargo & Company raised shares of Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 26th. Citigroup began coverage on shares of Celldex Therapeutics in a report on Monday, October 7th. They set a “buy” rating and a $70.00 price target on the stock. Wolfe Research downgraded shares of Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Friday, September 27th. Finally, HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Celldex Therapeutics in a report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $62.25.

Celldex Therapeutics Price Performance

The firm has a market capitalization of $1.85 billion, a PE ratio of -10.85 and a beta of 1.60. The company’s fifty day simple moving average is $29.35 and its 200-day simple moving average is $34.60.

Insider Buying and Selling at Celldex Therapeutics

In related news, CEO Anthony S. Marucci acquired 11,500 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were acquired at an average cost of $26.82 per share, with a total value of $308,430.00. Following the completion of the acquisition, the chief executive officer now directly owns 40,284 shares in the company, valued at approximately $1,080,416.88. This trade represents a 39.95 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Celldex Therapeutics

A number of hedge funds have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky raised its position in shares of Celldex Therapeutics by 5.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 42,628 shares of the biopharmaceutical company’s stock valued at $1,449,000 after buying an additional 2,070 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Celldex Therapeutics by 0.4% in the third quarter. Geode Capital Management LLC now owns 1,540,513 shares of the biopharmaceutical company’s stock valued at $52,372,000 after buying an additional 6,557 shares during the last quarter. Barclays PLC raised its position in shares of Celldex Therapeutics by 140.7% in the third quarter. Barclays PLC now owns 130,381 shares of the biopharmaceutical company’s stock valued at $4,431,000 after buying an additional 76,207 shares during the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of Celldex Therapeutics by 11.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 30,538 shares of the biopharmaceutical company’s stock valued at $1,038,000 after buying an additional 3,146 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Celldex Therapeutics in the third quarter valued at about $1,561,000.

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.