Celldex Therapeutics (NASDAQ:CLDX) Shares Up 8% – What’s Next?

Celldex Therapeutics, Inc. (NASDAQ:CLDX) was up 8% on Monday. The company traded as high as $29.31 and last traded at $29.72. 534,150 shares traded hands during trading, a decline of 51% from the average daily volume of 1,085,809 shares. The stock had previously closed at $27.53.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CLDX. Guggenheim lifted their target price on shares of Celldex Therapeutics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, July 20th. Barclays boosted their price target on Celldex Therapeutics from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen upgraded Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Leerink Partners upped their price target on Celldex Therapeutics from $70.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Thursday, October 15th. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.08.

Celldex Therapeutics Price Performance

The firm has a 50-day moving average price of $36.01 and a 200-day moving average price of $34.83.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.12. The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.73 million. As a group, research analysts expect that Celldex Therapeutics, Inc. will post -4.17 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Abel Hall LLC lifted its holdings in shares of Celldex Therapeutics by 6.8% during the third quarter. Abel Hall LLC now owns 6,237 shares of the biopharmaceutical company’s stock valued at $202,000 after purchasing an additional 399 shares in the last quarter. Ellsworth Advisors LLC bought a new stake in Celldex Therapeutics in the 3rd quarter worth about $958,000. Mirador Capital Partners LP increased its holdings in Celldex Therapeutics by 6.7% in the 3rd quarter. Mirador Capital Partners LP now owns 193,267 shares of the biopharmaceutical company’s stock worth $6,264,000 after buying an additional 12,213 shares in the last quarter. Engineers Gate Manager LP bought a new stake in Celldex Therapeutics in the 2nd quarter worth about $1,259,000. Finally, Arizona State Retirement System raised its position 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 buying an additional 2,139 shares during the last quarter.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing targeted therapeutics for diseases with significant unmet medical needs. The company uses antibody-based technologies to develop treatments intended to modulate the immune system and address inflammatory, autoimmune and other serious conditions.

Celldex’s lead investigational product is barzolvolimab, an antibody designed to selectively block the KIT receptor and reduce mast-cell activity.