Celldex Therapeutics (NASDAQ:CLDX) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Celldex Therapeutics (NASDAQ: CLDX) stock has risen above its 200-day moving average of $21.05, reaching a high of $26.37 during trading.
• Analysts have mixed ratings on the stock, with seven analysts giving a "buy" rating, while the consensus target price is $46.13, significantly higher than its current trading price.
• The company reported earnings of ($0.85) per share, beating estimates slightly, but its revenue was below expectations at $0.73 million compared to the $1.13 million consensus estimate.

Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.05 and traded as high as $26.37. Celldex Therapeutics shares last traded at $26.14, with a volume of 963,919 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Citigroup reduced their price objective 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. Canaccord Genuity Group reissued a "buy" rating and set a $62.00 price objective on shares of Celldex Therapeutics in a research note on Wednesday, September 17th. Wells Fargo & Company dropped their price target on shares of Celldex Therapeutics from $44.00 to $38.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Finally, HC Wainwright dropped their price objective on shares of Celldex Therapeutics from $50.00 to $42.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Celldex Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $46.13.

Celldex Therapeutics Trading Up 3.5%

The stock's 50-day moving average price is $23.25 and its 200-day moving average price is $21.05. The company has a market capitalization of $1.74 billion, a P/E ratio of -8.68 and a beta of 1.19.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CLDX. Vanguard Group Inc. lifted its stake in Celldex Therapeutics by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,898,435 shares of the biopharmaceutical company's stock valued at $70,757,000 after acquiring an additional 16,440 shares during the last quarter. Commodore Capital LP increased its position in Celldex Therapeutics by 7.8% during the second quarter. Commodore Capital LP now owns 3,450,000 shares of the biopharmaceutical company's stock worth $70,208,000 after acquiring an additional 250,000 shares during the period. Bellevue Group AG increased its holdings in Celldex Therapeutics by 7.7% in the 2nd quarter. Bellevue Group AG now owns 3,307,569 shares of the biopharmaceutical company's stock valued at $67,309,000 after buying an additional 235,954 shares during the period. Vestal Point Capital LP increased its holdings in Celldex Therapeutics by 781.0% in the 2nd 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. Finally, Geode Capital Management LLC increased its holdings in Celldex Therapeutics by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,672,980 shares of the biopharmaceutical company's stock valued at $34,050,000 after buying an additional 83,174 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.

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