Celldex Therapeutics (NASDAQ:CLDX) Sees Unusually-High Trading Volume - Here's Why

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) saw strong trading volume on Tuesday . 1,803,140 shares were traded during mid-day trading, an increase of 97% from the previous session's volume of 915,741 shares.The stock last traded at $20.32 and had previously closed at $19.97.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. The Goldman Sachs Group lowered their target price on shares of Celldex Therapeutics from $36.00 to $31.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Canaccord Genuity Group started coverage on shares of Celldex Therapeutics in a research report on Monday, April 28th. They issued a "buy" rating and a $64.00 price objective for the company. UBS Group lowered their price target on Celldex Therapeutics from $44.00 to $38.00 and set a "buy" rating for the company in a report on Friday, May 9th. HC Wainwright restated a "buy" rating and issued a $80.00 price target on shares of Celldex Therapeutics in a report on Tuesday, May 6th. Finally, Morgan Stanley lowered their target price on Celldex Therapeutics from $46.00 to $43.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $53.90.

Celldex Therapeutics Stock Performance

The company has a market cap of $1.30 billion, a P/E ratio of -7.60 and a beta of 1.33. The company has a fifty day moving average price of $18.87 and a two-hundred day moving average price of $22.06.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.06). Celldex Therapeutics had a negative net margin of 1,544.32% and a negative return on equity of 19.75%. The firm had revenue of $0.70 million during the quarter, compared to the consensus estimate of $1.08 million. Research analysts anticipate that Celldex Therapeutics, Inc. will post -2.48 EPS for the current year.

Institutional Trading of Celldex Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC boosted its stake in Celldex Therapeutics by 140.7% in the 3rd quarter. Barclays PLC now owns 130,381 shares of the biopharmaceutical company's stock valued at $4,431,000 after purchasing an additional 76,207 shares during the period. KBC Group NV boosted its position in shares of Celldex Therapeutics by 79.1% in the fourth quarter. KBC Group NV now owns 3,728 shares of the biopharmaceutical company's stock valued at $94,000 after acquiring an additional 1,647 shares during the period. Sovran Advisors LLC bought a new stake in Celldex Therapeutics in the 4th quarter valued at about $2,867,000. Values First Advisors Inc. boosted its stake in shares of Celldex Therapeutics by 20.0% in the fourth quarter. Values First Advisors Inc. now owns 29,009 shares of the biopharmaceutical company's stock valued at $733,000 after buying an additional 4,837 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in shares of Celldex Therapeutics by 52.9% in the fourth quarter. Handelsbanken Fonder AB now owns 21,100 shares of the biopharmaceutical company's stock valued at $533,000 after buying an additional 7,300 shares during the period.

About Celldex Therapeutics

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.