Celldex Therapeutics (NASDAQ:CLDX) Shares Down 4.5% - Here's Why

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) traded down 4.5% during 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.

Wall Street Analyst Weigh In

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

Celldex Therapeutics Trading Down 0.3%

The firm's 50-day moving average price is $19.22 and its 200-day moving average price is $21.89. The stock has a market capitalization of $1.35 billion, a PE ratio of -7.92 and a beta of 1.33.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.06). The business had revenue of $0.70 million for the quarter, compared to analysts' expectations 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 research analysts predict that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal year.

Institutional Trading of Celldex Therapeutics

Several hedge funds have recently made changes to their positions in CLDX. Deep Track Capital LP purchased a new stake in shares of Celldex Therapeutics during the 4th quarter valued at about $38,919,000. Point72 Asset Management L.P. lifted its stake in Celldex Therapeutics by 50.8% in the fourth quarter. Point72 Asset Management L.P. now owns 2,515,972 shares of the biopharmaceutical company's stock worth $63,579,000 after purchasing an additional 847,264 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Celldex Therapeutics by 23.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,557,136 shares of the biopharmaceutical company's stock worth $89,890,000 after purchasing an additional 676,771 shares during the last quarter. Nuveen LLC bought a new stake in Celldex Therapeutics in the first quarter worth about $7,789,000. Finally, Millennium Management LLC lifted its stake in 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 during the last quarter.

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.