Celldex Therapeutics (NASDAQ:CLDX) Trading Down 5.5% – Should You Sell?

Celldex Therapeutics, Inc. (NASDAQ:CLDX) shares dropped 5.5% on Friday . The stock traded as low as $24.99 and last traded at $24.99. Approximately 387,690 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 885,998 shares. The stock had previously closed at $26.45.

Analyst Ratings Changes

CLDX has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Celldex Therapeutics in a research note on Wednesday, November 20th. Wolfe Research lowered Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 27th. The Goldman Sachs Group started coverage on shares of Celldex Therapeutics in a report on Monday, September 30th. They issued a “neutral” rating and a $45.00 target price on the stock. 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. Finally, Citigroup started coverage on shares of Celldex Therapeutics in a research report on Monday, October 7th. They issued a “buy” rating and a $70.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

Celldex Therapeutics Stock Performance

The company has a market cap of $1.65 billion, a PE ratio of -10.29 and a beta of 1.57. The company’s 50-day simple moving average is $27.38 and its 200 day simple moving average is $33.73.

Insider Activity

In other Celldex Therapeutics news, CEO Anthony S. Marucci purchased 11,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average price of $26.82 per share, for a total transaction of $308,430.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Celldex Therapeutics

Several institutional investors have recently modified their holdings of CLDX. Teachers Retirement System of The State of Kentucky increased its stake in shares of Celldex Therapeutics by 5.1% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 42,628 shares of the biopharmaceutical company’s stock worth $1,449,000 after purchasing an additional 2,070 shares in the last quarter. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 6,557 shares during the last quarter. Barclays PLC increased its holdings in Celldex Therapeutics by 140.7% during the 3rd quarter. Barclays PLC now owns 130,381 shares of the biopharmaceutical company’s stock worth $4,431,000 after purchasing an additional 76,207 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake 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 worth $1,038,000 after buying an additional 3,146 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Celldex Therapeutics in the third quarter valued at $1,561,000.

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.