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

Celldex Therapeutics, Inc. (NASDAQ:CLDX) reached a new 52-week high during trading on Tuesday . The stock traded as high as $43.21 and last traded at $42.97, with a volume of 727630 shares changing hands. The stock had previously closed at $41.71.

Wall Street Analyst Weigh In

Several research firms have issued reports on CLDX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Friday, July 17th. HC Wainwright reissued a “buy” rating and issued a $42.00 target price on shares of Celldex Therapeutics in a research note on Monday, June 15th. Wall Street Zen upgraded shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Canaccord Genuity Group decreased their price target on shares of Celldex Therapeutics from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Finally, Barclays increased their price target on Celldex Therapeutics from $48.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.46.

Celldex Therapeutics Price Performance

The company’s 50-day simple moving average is $36.06 and its 200-day simple moving average is $31.96. The company has a market cap of $3.52 billion, a price-to-earnings ratio of -10.31 and a beta of 0.87.

Celldex Therapeutics (NASDAQ:CLDX) last posted its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.12. The firm had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.73 million. Equities analysts predict that Celldex Therapeutics, Inc. will post -4.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of institutional investors have recently added to or reduced their stakes in CLDX. Wilmington Savings Fund Society FSB acquired a new stake in shares of Celldex Therapeutics during the third quarter valued at about $42,000. Russell Investments Group Ltd. increased its position in shares of Celldex Therapeutics by 27.6% during the second quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 501 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Celldex Therapeutics in the third quarter worth about $63,000. Kestra Advisory Services LLC acquired a new position in shares of Celldex Therapeutics in the fourth quarter worth about $98,000. Finally, Headlands Technologies LLC acquired a new position in shares of Celldex Therapeutics in the second quarter worth about $125,000.

Celldex Therapeutics Company Profile

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.