Celldex Therapeutics (NASDAQ:CLDX) Sets New 12-Month High – Here’s Why

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price reached a new 52-week high on Monday . The stock traded as high as $31.42 and last traded at $31.3950, with a volume of 942586 shares trading hands. The stock had previously closed at $29.43.

Analyst Ratings Changes

CLDX has been the subject of several analyst reports. The Goldman Sachs Group increased their price target on shares of Celldex Therapeutics from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Barclays upped their price objective on Celldex Therapeutics from $21.00 to $24.00 and gave the company an “underweight” rating in a report on Wednesday, December 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Wednesday, January 21st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $68.00 target price (up from $58.00) on shares of Celldex Therapeutics in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Celldex Therapeutics Stock Performance

The company has a 50 day moving average of $26.16 and a 200-day moving average of $25.84. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -8.03 and a beta of 1.17.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.22). The firm had revenue of $0.12 million during the quarter, compared to analyst estimates of $1.53 million. Celldex Therapeutics had a negative net margin of 3,446.88% and a negative return on equity of 41.67%. On average, research analysts anticipate that Celldex Therapeutics, Inc. will post -2.48 EPS for the current year.

Institutional Investors Weigh In On Celldex Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its position in Celldex Therapeutics by 14.3% in the 4th quarter. Invesco Ltd. now owns 90,144 shares of the biopharmaceutical company’s stock valued at $2,448,000 after buying an additional 11,258 shares during the period. ADAR1 Capital Management LLC raised its stake in shares of Celldex Therapeutics by 491.0% in the fourth quarter. ADAR1 Capital Management LLC now owns 646,767 shares of the biopharmaceutical company’s stock valued at $17,566,000 after acquiring an additional 537,325 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Celldex Therapeutics by 552.7% in the fourth quarter. XTX Topco Ltd now owns 51,523 shares of the biopharmaceutical company’s stock valued at $1,399,000 after acquiring an additional 43,629 shares in the last quarter. Virtus Investment Advisers LLC boosted its holdings in Celldex Therapeutics by 72.9% in the fourth quarter. Virtus Investment Advisers LLC now owns 9,671 shares of the biopharmaceutical company’s stock valued at $263,000 after purchasing an additional 4,079 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Celldex Therapeutics by 39.3% in the fourth quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company’s stock valued at $219,442,000 after purchasing an additional 2,279,605 shares during the period.

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.