Celldex Therapeutics, Inc. (NASDAQ:CLDX) Receives Consensus Rating of “Moderate Buy” from Analysts

Celldex Therapeutics, Inc. (NASDAQ:CLDX) has been given a consensus rating of “Moderate Buy” by the eleven brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $44.10.

A number of equities research analysts have recently weighed in on CLDX shares. Mizuho assumed coverage on Celldex Therapeutics in a research note on Tuesday, October 21st. They set an “outperform” rating and a $48.00 price target on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $62.00 price target on shares of Celldex Therapeutics in a report on Wednesday, September 17th. Barclays boosted their price objective 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Wednesday, October 8th.

Celldex Therapeutics Price Performance

Shares of NASDAQ CLDX opened at $25.93 on Wednesday. The stock has a market capitalization of $1.72 billion, a P/E ratio of -7.67 and a beta of 1.19. The business has a fifty day moving average price of $26.33 and a 200 day moving average price of $24.84. Celldex Therapeutics has a 1-year low of $14.40 and a 1-year high of $30.50.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Monday, November 10th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.13). Celldex Therapeutics had a negative net margin of 3,446.88% and a negative return on equity of 33.22%. As a group, equities research analysts anticipate that Celldex Therapeutics 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 Celldex Therapeutics stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $24.00, for a total transaction of $1,183,152.00. Following the completion of the sale, the insider directly owned 20,833 shares in the company, valued at approximately $499,992. The trade was a 70.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Celldex Therapeutics

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in shares of Celldex Therapeutics by 10.8% in the third quarter. Wellington Management Group LLP now owns 5,800,003 shares of the biopharmaceutical company’s stock worth $150,046,000 after buying an additional 567,677 shares during the last quarter. Bellevue Group AG grew its stake in 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 acquiring an additional 250,100 shares during the period. Commodore Capital LP increased its holdings in Celldex Therapeutics by 7.8% in the 2nd quarter. Commodore Capital LP now owns 3,450,000 shares of the biopharmaceutical company’s stock worth $70,208,000 after acquiring an additional 250,000 shares in the last quarter. Eventide Asset Management LLC raised its position in Celldex Therapeutics by 37.1% during the third quarter. Eventide Asset Management LLC now owns 1,859,095 shares of the biopharmaceutical company’s stock worth $48,096,000 after acquiring an additional 502,909 shares during the period. Finally, Vestal Point Capital LP lifted its holdings in Celldex Therapeutics by 781.0% during the second quarter. Vestal Point Capital LP now owns 1,750,000 shares of the biopharmaceutical company’s stock valued at $35,612,000 after purchasing an additional 1,551,354 shares in the last quarter.

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.