Celldex Therapeutics (NASDAQ:CLDX) Posts Earnings Results, Beats Expectations By $0.12 EPS

Celldex Therapeutics (NASDAQ:CLDX) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.12, FiscalAI reports. The company had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.73 million.

Celldex Therapeutics Trading Up 0.4%

NASDAQ:CLDX traded up $0.15 during midday trading on Friday, reaching $41.71. The company had a trading volume of 808,912 shares, compared to its average volume of 954,386. Celldex Therapeutics has a 12-month low of $19.72 and a 12-month high of $42.92. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of -9.59 and a beta of 0.87. The stock’s fifty day simple moving average is $35.19 and its 200-day simple moving average is $31.54.

Hedge Funds Weigh In On Celldex Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CLDX. Wellington Management Group LLP raised 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 acquiring an additional 2,279,605 shares in the last quarter. Bellevue Group AG increased its position in shares of Celldex Therapeutics by 7.6% in the 3rd quarter. Bellevue Group AG now owns 3,557,669 shares of the biopharmaceutical company’s stock valued at $92,037,000 after purchasing an additional 250,100 shares during the last quarter. Commodore Capital LP raised its holdings in shares of Celldex Therapeutics by 7.8% in the 2nd quarter. Commodore Capital LP now owns 3,450,000 shares of the biopharmaceutical company’s stock valued at $70,208,000 after purchasing an additional 250,000 shares in the last quarter. State Street Corp lifted its position in shares of Celldex Therapeutics by 19.5% during the 4th quarter. State Street Corp now owns 3,397,713 shares of the biopharmaceutical company’s stock worth $92,282,000 after purchasing an additional 555,579 shares during the last quarter. Finally, Braidwell LP lifted its position in shares of Celldex Therapeutics by 214.0% during the 4th quarter. Braidwell LP now owns 1,858,109 shares of the biopharmaceutical company’s stock worth $50,466,000 after purchasing an additional 1,266,420 shares during the last quarter.

Wall Street Analysts Forecast Growth

CLDX has been the subject of a number of research reports. Guggenheim lifted their price objective on Celldex Therapeutics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Cantor Fitzgerald lowered their target price on Celldex Therapeutics from $67.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Morgan Stanley lifted their target price on Celldex Therapeutics from $40.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group increased their price target on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Finally, Canaccord Genuity Group lowered their price objective on shares of Celldex Therapeutics from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Celldex Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $55.46.

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.