Celldex Therapeutics (NASDAQ:CLDX) Shares Pass Above 200 Day Moving Average - What's Next?

Key Points

• Celldex shares crossed above their 200-day moving average (200‑day MA $27.60), trading as high as $34.65 and last at $33.66 on volume of about 851,877 shares.
• Wall Street sentiment has shifted bullish with multiple upgrades and price-target raises, leaving an average rating of Moderate Buy and an average price target of $46.36.
• Fundamentals remain strained after the company missed the quarter (EPS -$1.22 vs -$1.00 est., revenue $0.12M vs $1.53M) and analysts forecast a negative FY EPS (about -4.87), signaling ongoing losses despite the price momentum.

Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $27.60 and traded as high as $34.65. Celldex Therapeutics shares last traded at $33.66, with a volume of 851,877 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CLDX shares. Stifel Nicolaus reissued a "buy" rating and set a $68.00 price objective (up from $58.00) on shares of Celldex Therapeutics in a report on Thursday, February 26th. Wolfe Research raised shares of Celldex Therapeutics from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective on the stock in a report on Monday, March 23rd. The Goldman Sachs Group lifted their price objective on shares of Celldex Therapeutics from $30.00 to $34.00 and gave the company a "neutral" rating in a report on Monday, March 2nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Celldex Therapeutics in a report on Monday, April 20th. Finally, Barclays raised shares of Celldex Therapeutics from an "underweight" rating to an "overweight" rating and lifted their price objective for the company from $24.00 to $45.00 in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Celldex Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $46.36.

Celldex Therapeutics Price Performance

The company's fifty day simple moving average is $30.52 and its 200-day simple moving average is $27.60. The firm has a market capitalization of $2.24 billion, a PE ratio of -8.65 and a beta of 1.19.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.22). The business had revenue of $0.12 million for the quarter, compared to analyst estimates of $1.53 million. As a group, equities research analysts anticipate that Celldex Therapeutics, Inc. will post -4.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CLDX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 worth $798,000 after purchasing an additional 680 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Celldex Therapeutics by 327.3% during the first 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 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% during 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 buying an additional 14,979 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Celldex Therapeutics by 27.6% during the second quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company's stock valued at $47,000 after buying an additional 501 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Celldex Therapeutics in the 2nd quarter valued at $347,000.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted immunotherapies for cancer and other serious diseases. The company's research platforms leverage novel antibody and vaccine technologies designed to engage the patient's immune system, with a particular emphasis on oncology and neurologic indications. Celldex's pipeline includes both monoclonal antibodies and biologic agents that seek to modulate immune responses or deliver targeted cytotoxic activity.

Among Celldex's lead product candidates is glembatumumab vedotin, an antibody–drug conjugate directed against the glycoprotein NMB (gpNMB) for the treatment of certain breast and skin cancers.

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