Celldex Therapeutics (NASDAQ:CLDX) Trading Down 7.5% – Here’s Why

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) traded down 7.5% on Monday . The stock traded as low as $25.54 and last traded at $25.3250. 360,391 shares traded hands during trading, a decline of 48% from the average session volume of 690,507 shares. The stock had previously closed at $27.38.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CLDX. Canaccord Genuity Group restated a “buy” rating and issued a $62.00 target price on shares of Celldex Therapeutics in a report on Wednesday, September 17th. Barclays lifted their price target on shares of Celldex Therapeutics from $21.00 to $24.00 and gave the company an “underweight” rating in a report on Wednesday, December 17th. Mizuho initiated coverage on Celldex Therapeutics in a report on Tuesday, October 21st. They set an “outperform” rating and a $48.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Celldex Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $44.10.

Celldex Therapeutics Stock Performance

The company’s fifty day moving average is $26.28 and its two-hundred day moving average is $24.80. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -7.59 and a beta of 1.19.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings data on Monday, November 10th. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.13). Celldex Therapeutics had a negative return on equity of 33.22% and a negative net margin of 3,446.88%. As a group, analysts forecast that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal year.

Insider Transactions at Celldex Therapeutics

In other Celldex Therapeutics news, insider Richard M. Wright sold 49,298 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $24.00, for a total value of $1,183,152.00. Following the completion of the sale, the insider owned 20,833 shares of the company’s stock, valued at $499,992. This trade represents a 70.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Celldex Therapeutics

A number of large investors have recently added to or reduced their stakes in CLDX. Aster Capital Management DIFC Ltd purchased a new position in Celldex Therapeutics in the 3rd quarter valued at about $26,000. Nisa Investment Advisors LLC lifted its stake in shares of Celldex Therapeutics by 171.7% in the second quarter. Nisa Investment Advisors LLC now owns 1,394 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 881 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Celldex Therapeutics in the third quarter worth about $42,000. Russell Investments Group Ltd. boosted its holdings in Celldex Therapeutics by 27.6% in the second quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 501 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Celldex Therapeutics during the 3rd quarter valued at approximately $63,000.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted immunotherapies for cancer and other serious diseases. The company’s research platforms leverage novel antibody and vaccine technologies designed to engage the patient’s immune system, with a particular emphasis on oncology and neurologic indications. Celldex’s pipeline includes both monoclonal antibodies and biologic agents that seek to modulate immune responses or deliver targeted cytotoxic activity.

Among Celldex’s lead product candidates is glembatumumab vedotin, an antibody–drug conjugate directed against the glycoprotein NMB (gpNMB) for the treatment of certain breast and skin cancers.