Celldex Therapeutics Inc. (CLDX) Shares Sold by Sit Investment Associates Inc.
Sit Investment Associates Inc. lowered its position in shares of Celldex Therapeutics Inc. (NASDAQ:CLDX) by 61.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 24,275 shares of the biopharmaceutical company’s stock after selling 39,000 shares during the period. Sit Investment Associates Inc.’s holdings in Celldex Therapeutics were worth $107,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Canada Pension Plan Investment Board boosted its stake in shares of Celldex Therapeutics by 304.5% in the first quarter. Canada Pension Plan Investment Board now owns 44,900 shares of the biopharmaceutical company’s stock worth $170,000 after buying an additional 33,800 shares during the period. Bank of Montreal Can bought a new position in Celldex Therapeutics during the second quarter valued at about $188,000. Metropolitan Life Insurance Co. NY raised its position in Celldex Therapeutics by 2.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 70,903 shares of the biopharmaceutical company’s stock valued at $268,000 after buying an additional 1,412 shares in the last quarter. Marcus Capital LLC raised its position in Celldex Therapeutics by 58.5% in the second quarter. Marcus Capital LLC now owns 111,600 shares of the biopharmaceutical company’s stock valued at $490,000 after buying an additional 41,200 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in Celldex Therapeutics during the first quarter valued at about $521,000. Hedge funds and other institutional investors own 78.41% of the company’s stock.
Celldex Therapeutics Inc. (NASDAQ:CLDX) traded down 4.71% during midday trading on Friday, hitting $3.44. 2,218,032 shares of the stock traded hands. The company has a 50-day moving average of $3.76 and a 200-day moving average of $4.17. Celldex Therapeutics Inc. has a 12 month low of $2.96 and a 12 month high of $18.62. The stock’s market cap is $345.87 million.
Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.02. The business earned $1.39 million during the quarter, compared to the consensus estimate of $0.96 million. Celldex Therapeutics had a negative return on equity of 47.59% and a negative net margin of 2,383.60%. The company’s quarterly revenue was down 36.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.33) earnings per share. On average, equities research analysts anticipate that Celldex Therapeutics Inc. will post ($1.34) earnings per share for the current year.
Several research firms have recently issued reports on CLDX. Wedbush reaffirmed a “neutral” rating and issued a $3.00 price target on shares of Celldex Therapeutics in a research report on Tuesday, August 9th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $9.00 price target on shares of Celldex Therapeutics in a research report on Monday. Jefferies Group lifted their price target on Celldex Therapeutics to $5.00 and gave the stock a “hold” rating in a research report on Friday, August 5th. Finally, Brean Capital began coverage on Celldex Therapeutics in a research report on Tuesday, October 4th. They issued a “buy” rating and a $16.00 price target for the company. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $7.75.
About Celldex Therapeutics
Celldex Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of several immunotherapy technologies for the treatment of cancer and other diseases. Its lead drug Rintega (rindopepimut and CDX-110) is a therapeutic vaccine in clinical studies for the treatment of glioblastoma patients that express a specific cancer marker known as type III epidermal growth factor receptor mutation (EGFRvIII).
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