Celldex Therapeutics (NASDAQ:CLDX) Trading Down 3.7% – Here’s Why

Celldex Therapeutics, Inc. (NASDAQ:CLDX) was down 3.7% during mid-day trading on Tuesday . The stock traded as low as $20.09 and last traded at $20.02. Approximately 32,205 shares changed hands during trading, a decline of 96% from the average daily volume of 867,794 shares. The stock had previously closed at $20.78.

Wall Street Analyst Weigh In

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

Celldex Therapeutics Stock Performance

The company has a market cap of $1.34 billion, a PE ratio of -7.87 and a beta of 1.76. The company has a 50 day simple moving average of $22.15 and a two-hundred day simple moving average of $26.86.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.18 million during the quarter, compared to analyst estimates of $1.25 million. As a group, analysts expect that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Deep Track Capital LP bought a new stake in Celldex Therapeutics during the fourth quarter worth approximately $38,919,000. Wellington Management Group LLP boosted its holdings in shares of Celldex Therapeutics by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 9,243,599 shares of the biopharmaceutical company’s stock worth $314,190,000 after buying an additional 1,167,659 shares during the period. Point72 Asset Management L.P. grew its stake in Celldex Therapeutics by 50.8% in the 4th quarter. Point72 Asset Management L.P. now owns 2,515,972 shares of the biopharmaceutical company’s stock valued at $63,579,000 after buying an additional 847,264 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Celldex Therapeutics by 23.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,557,136 shares of the biopharmaceutical company’s stock worth $89,890,000 after acquiring an additional 676,771 shares during the period. Finally, Vestal Point Capital LP acquired a new position in Celldex Therapeutics during the 4th quarter worth $7,707,000.

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.