Celldex Therapeutics (NASDAQ:CLDX) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.24 and traded as high as $22.37. Celldex Therapeutics shares last traded at $21.98, with a volume of 978,039 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CLDX shares. UBS Group cut their price objective on shares of Celldex Therapeutics from $44.00 to $38.00 and set a "buy" rating for the company in a report on Friday, May 9th. Canaccord Genuity Group began coverage on Celldex Therapeutics in a research note on Monday, April 28th. They issued a "buy" rating and a $64.00 target price for the company. Morgan Stanley cut 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. The Goldman Sachs Group cut their target price on Celldex Therapeutics from $36.00 to $31.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Finally, HC Wainwright restated a "buy" rating and set a $50.00 price objective on shares of Celldex Therapeutics in a research report on Friday, June 13th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Celldex Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $50.11.

Celldex Therapeutics Stock Performance

The business has a 50-day moving average of $20.37 and a 200-day moving average of $21.16. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -7.77 and a beta of 1.13.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.06). Celldex Therapeutics had a negative net margin of 2,366.07% and a negative return on equity of 23.46%. The company had revenue of $0.70 million for the quarter, compared to analyst estimates of $1.08 million. Equities analysts predict that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

Institutional investors have recently modified their holdings of the company. Rhumbline Advisers grew its position in Celldex Therapeutics by 6.9% in the 1st quarter. Rhumbline Advisers now owns 98,266 shares of the biopharmaceutical company's stock valued at $1,784,000 after acquiring an additional 6,327 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Celldex Therapeutics by 12.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,296 shares of the biopharmaceutical company's stock valued at $2,383,000 after purchasing an additional 14,979 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Celldex Therapeutics by 327.3% in the first quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company's stock valued at $7,259,000 after purchasing an additional 306,330 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Celldex Therapeutics by 1.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company's stock valued at $798,000 after purchasing an additional 680 shares in the last quarter. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Celldex Therapeutics in the first quarter valued at approximately $265,000.

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.