Celldex Therapeutics (NASDAQ:CLDX) Stock Price Down 3.5% - Here's Why

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) traded down 3.5% during trading on Tuesday . The stock traded as low as $19.82 and last traded at $19.64. 537,413 shares changed hands during trading, a decline of 40% from the average session volume of 896,224 shares. The stock had previously closed at $20.35.

Analysts Set New Price Targets

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

Celldex Therapeutics Stock Performance

The company's 50-day moving average price is $18.87 and its 200 day moving average price is $22.14. The stock has a market capitalization of $1.29 billion, a PE ratio of -7.58 and a beta of 1.39.

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

Institutional Investors Weigh In On Celldex Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its position in shares of Celldex Therapeutics by 215.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,285 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 878 shares during the period. GAMMA Investing LLC lifted its position in Celldex Therapeutics by 6,665.9% during the 1st quarter. GAMMA Investing LLC now owns 2,977 shares of the biopharmaceutical company's stock valued at $54,000 after acquiring an additional 2,933 shares during the period. Headlands Technologies LLC purchased a new position in Celldex Therapeutics during the 4th quarter valued at about $81,000. KBC Group NV lifted its position in Celldex Therapeutics by 79.1% during the 4th 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. Finally, AlphaQuest LLC lifted its position in Celldex Therapeutics by 171.0% during the 4th quarter. AlphaQuest LLC now owns 4,287 shares of the biopharmaceutical company's stock valued at $108,000 after acquiring an additional 2,705 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.