Celldex Therapeutics (NASDAQ:CLDX) Trading Down 4.5% - Should You Sell?

Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report)'s stock price traded down 4.5% during mid-day trading on Monday . The stock traded as low as $20.35 and last traded at $20.39. 155,730 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 915,662 shares. The stock had previously closed at $21.35.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Morgan Stanley decreased their price objective on Celldex Therapeutics from $46.00 to $43.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. HC Wainwright reissued a "buy" rating and set a $80.00 target price on shares of Celldex Therapeutics in a research note 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 for the company in a report on Friday, May 9th. Canaccord Genuity Group began coverage on shares of Celldex Therapeutics in a research report on Monday, April 28th. They set a "buy" rating and a $64.00 price objective for the company. Finally, The Goldman Sachs Group decreased their target price on Celldex Therapeutics from $36.00 to $31.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $53.90.

Celldex Therapeutics Price Performance

The firm has a fifty day simple moving average of $18.98 and a 200-day simple moving average of $21.95. The firm has a market cap of $1.36 billion, a P/E ratio of -7.95 and a beta of 1.33.

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

Hedge Funds Weigh In On Celldex Therapeutics

Several institutional investors have recently bought and sold shares of the company. Rhumbline Advisers grew its stake in shares of Celldex Therapeutics by 6.9% during the 1st quarter. Rhumbline Advisers now owns 98,266 shares of the biopharmaceutical company's stock worth $1,784,000 after acquiring an additional 6,327 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in 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 worth $2,383,000 after purchasing an additional 14,979 shares during the period. Millennium Management LLC increased its stake 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 worth $7,259,000 after purchasing an additional 306,330 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Celldex Therapeutics by 1.6% during the 1st 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 in the last quarter. Finally, ADAR1 Capital Management LLC bought a new position in shares of Celldex Therapeutics in the first quarter worth 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.

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