Celldex Therapeutics (NASDAQ:CLDX) Trading 6.2% Higher - Here's Why

Key Points

• Celldex Therapeutics shares rose by 6.2%, reaching a trading price of $23.43, though the trading volume declined significantly by 84% compared to average levels.
• Analysts have advised caution, with several firms reducing their target prices, ranging from $31.00 to $48.00, while maintaining buy or overweight ratings on the stock.
• In its latest earnings report, Celldex posted an EPS of ($0.85), slightly exceeding expectations, but reported a negative return on equity of 27.61%.

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) traded up 6.2% on Wednesday . The company traded as high as $23.09 and last traded at $23.43. 158,943 shares were traded during trading, a decline of 84% from the average session volume of 1,000,128 shares. The stock had previously closed at $22.06.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Celldex Therapeutics from $56.00 to $48.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Canaccord Genuity Group reduced their target price on Celldex Therapeutics from $64.00 to $62.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. The Goldman Sachs Group decreased their target price on Celldex Therapeutics from $36.00 to $31.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Morgan Stanley cut their price target on Celldex Therapeutics from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Finally, Wells Fargo & Company reduced 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. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.67.

Celldex Therapeutics Stock Up 6.4%

The stock has a market capitalization of $1.56 billion, a PE ratio of -7.79 and a beta of 1.19. The firm's fifty day moving average is $22.33 and its 200-day moving average is $20.63.

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

Institutional Trading of Celldex Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its holdings in Celldex Therapeutics by 171.7% in the second quarter. Nisa Investment Advisors LLC now owns 1,394 shares of the biopharmaceutical company's stock valued at $28,000 after buying an additional 881 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Celldex Therapeutics by 27.6% during the second quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company's stock worth $47,000 after purchasing an additional 501 shares during the last quarter. GAMMA Investing LLC boosted its position in Celldex Therapeutics by 6,665.9% during the first quarter. GAMMA Investing LLC now owns 2,977 shares of the biopharmaceutical company's stock worth $54,000 after purchasing an additional 2,933 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in Celldex Therapeutics in the fourth quarter valued at $121,000. Finally, Headlands Technologies LLC purchased a new position in shares of Celldex Therapeutics in the second quarter valued at $125,000.

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.

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