Celldex Therapeutics (NASDAQ:CLDX) Sees Strong Trading Volume – What’s Next?

Celldex Therapeutics, Inc. (NASDAQ:CLDX) saw unusually-strong trading volume on Thursday . Approximately 2,066,666 shares changed hands during mid-day trading, an increase of 136% from the previous session’s volume of 877,253 shares.The stock last traded at $30.8810 and had previously closed at $31.26.

Analysts Set New Price Targets

Several brokerages have weighed in on CLDX. Barclays upped their target price on shares of Celldex Therapeutics from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 17th. Stifel Nicolaus reissued a “buy” rating and set a $68.00 price target (up from $58.00) on shares of Celldex Therapeutics in a research note on Thursday, February 26th. The Goldman Sachs Group upped their price target on Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Wednesday, January 21st. Finally, Wolfe Research upgraded shares of Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a research report on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.45.

Celldex Therapeutics Price Performance

The company has a market cap of $2.02 billion, a PE ratio of -7.79 and a beta of 1.19. The firm has a 50-day simple moving average of $27.50 and a two-hundred day simple moving average of $26.65.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) 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. Equities research analysts forecast that Celldex Therapeutics, Inc. will post -2.48 EPS for the current year.

Institutional Investors Weigh In On Celldex Therapeutics

Hedge funds have recently modified their holdings of the company. Simplify Asset Management Inc. purchased a new stake in Celldex Therapeutics in the third quarter valued at approximately $2,199,000. Propel Bio Management LLC acquired a new position in shares of Celldex Therapeutics in the 3rd quarter valued at $4,010,000. Segall Bryant & Hamill LLC grew its stake in shares of Celldex Therapeutics by 36.3% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 528,597 shares of the biopharmaceutical company’s stock valued at $13,675,000 after buying an additional 140,709 shares during the period. American Century Companies Inc. increased its holdings in shares of Celldex Therapeutics by 4.6% during the 3rd quarter. American Century Companies Inc. now owns 815,560 shares of the biopharmaceutical company’s stock worth $21,099,000 after buying an additional 35,575 shares during the last quarter. Finally, Eventide Asset Management LLC increased its holdings in shares of Celldex Therapeutics by 37.1% during the 3rd quarter. Eventide Asset Management LLC now owns 1,859,095 shares of the biopharmaceutical company’s stock worth $48,096,000 after buying an additional 502,909 shares during 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.