Celldex Therapeutics (NASDAQ:CLDX) Stock Falls 8.5% – Should You Sell?

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) were down 8.5% on Wednesday. The stock traded as low as $30.76 and last traded at $30.6490. Approximately 1,895,097 shares were traded during trading, an increase of 87% from the average session volume of 1,012,472 shares. The stock had previously closed at $33.51.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Celldex Therapeutics from $50.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group lifted their price target on Celldex Therapeutics from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Wall Street Zen raised Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Stifel Nicolaus set a $68.00 price objective on Celldex Therapeutics in a research note on Tuesday. Finally, Wells Fargo & Company increased their target price on Celldex Therapeutics from $48.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Celldex Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $61.92.

Celldex Therapeutics Price Performance

The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -7.24 and a beta of 0.84. The stock’s fifty day simple moving average is $38.81 and its two-hundred day simple moving average is $34.86.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.12. The business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.73 million. On average, sell-side analysts predict that Celldex Therapeutics, Inc. will post -4.17 EPS for the current year.

Hedge Funds Weigh In On Celldex Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC increased its position in shares of Celldex Therapeutics by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 11,973 shares of the biopharmaceutical company’s stock worth $325,000 after acquiring an additional 773 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Celldex Therapeutics by 5.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 27,200 shares of the biopharmaceutical company’s stock valued at $1,012,000 after acquiring an additional 1,300 shares in the last quarter. Nykredit A S purchased a new stake in shares of Celldex Therapeutics in the 2nd quarter valued at approximately $67,000. Arizona State Retirement System boosted its stake in Celldex Therapeutics by 13.0% in the 2nd quarter. Arizona State Retirement System now owns 18,565 shares of the biopharmaceutical company’s stock worth $691,000 after purchasing an additional 2,139 shares during the period. Finally, Intech Investment Management LLC grew its position in Celldex Therapeutics by 8.4% during the 4th quarter. Intech Investment Management LLC now owns 33,499 shares of the biopharmaceutical company’s stock worth $910,000 after purchasing an additional 2,608 shares in the last quarter.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based therapeutics for diseases with significant unmet medical needs. The company’s research programs address conditions in immunology, inflammation, oncology and other areas where targeted immune-system modulation may provide therapeutic benefits.

Celldex’s lead investigational product is barzolvolimab, an antibody designed to block the KIT receptor and reduce mast cells. The therapy is being studied in immune-mediated diseases, including chronic spontaneous urticaria and prurigo nodularis.