Celldex Therapeutics (NASDAQ:CLDX) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Celldex Therapeutics' share price recently crossed above its 200-day moving average of $21.31, reaching a high of $26.90 during trading.
• The company reported a loss of $0.85 per share in its most recent quarter, slightly beating analysts' expectations, but revenues fell short of estimates.
• Analysts hold a consensus rating of "Moderate Buy" for Celldex Therapeutics, with an average price target of $46.13.

Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $21.31 and traded as high as $26.90. Celldex Therapeutics shares last traded at $26.38, with a volume of 927,305 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CLDX. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Celldex Therapeutics in a report on Saturday, September 27th. Canaccord Genuity Group reiterated a "buy" rating and issued a $62.00 price target on shares of Celldex Therapeutics in a research report on Wednesday, September 17th. Wells Fargo & Company dropped their price objective on Celldex Therapeutics from $44.00 to $38.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Citigroup reduced their target price on shares of Celldex Therapeutics from $56.00 to $48.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Finally, HC Wainwright lowered their target price on shares of Celldex Therapeutics from $50.00 to $42.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $46.13.

Celldex Therapeutics Stock Performance

The stock has a 50-day simple moving average of $23.64 and a 200 day simple moving average of $21.31. The stock has a market capitalization of $1.75 billion, a P/E ratio of -8.76 and a beta of 1.33.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.86) by $0.01. The business had revenue of $0.73 million for the quarter, compared to analyst estimates of $1.13 million. Celldex Therapeutics had a negative return on equity of 27.61% and a negative net margin of 3,446.88%. Equities analysts predict that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current year.

Institutional Investors Weigh In On Celldex Therapeutics

Several institutional investors have recently modified their holdings of CLDX. Vestal Point Capital LP lifted its holdings in Celldex Therapeutics by 781.0% in 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 buying an additional 1,551,354 shares during the period. Nuveen LLC acquired a new stake in Celldex Therapeutics in the first quarter worth $7,789,000. Segall Bryant & Hamill LLC bought a new position in shares of Celldex Therapeutics during the second quarter worth $7,894,000. Millennium Management LLC grew its holdings in shares of Celldex Therapeutics by 327.3% in the 1st quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company's stock valued at $7,259,000 after buying an additional 306,330 shares during the period. Finally, Commodore Capital LP grew its holdings in shares of Celldex Therapeutics by 7.8% in the 2nd quarter. Commodore Capital LP now owns 3,450,000 shares of the biopharmaceutical company's stock valued at $70,208,000 after buying an additional 250,000 shares during the period.

Celldex Therapeutics Company Profile

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.

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