29,300 Shares in Celldex Therapeutics, Inc. $CLDX Purchased by Seven Fleet Capital Management LP

Key Points

• Seven Fleet Capital Management initiated a 29,300-share position in Celldex Therapeutics valued at approximately $929,000. Millennium Management also significantly increased its stake by 327.3% during the first quarter.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $54.62 price target, despite several firms recently lowering their targets.
• Celldex shares opened at $38.06, near their 52-week high of $40.30. The company reported a quarterly loss of $1.18 per share, slightly worse than analyst expectations, and analysts project a full-year loss of $4.36 per share.

Seven Fleet Capital Management LP bought a new position in shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,300 shares of the biopharmaceutical company's stock, valued at approximately $929,000.

Other hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 acquiring an additional 680 shares in the last quarter. Millennium Management LLC increased its stake in Celldex Therapeutics by 327.3% in the 1st quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company's stock valued at $7,259,000 after purchasing an additional 306,330 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Celldex Therapeutics by 12.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,296 shares of the biopharmaceutical company's stock valued at $2,383,000 after purchasing an additional 14,979 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. Finally, Hsbc Holdings PLC acquired a new position in Celldex Therapeutics during the second quarter worth $347,000.

Wall Street Analyst Weigh In

Several research firms have weighed in on CLDX. Cantor Fitzgerald lowered their target price on Celldex Therapeutics from $67.00 to $61.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Wall Street Zen raised Celldex Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Sunday, July 12th. Canaccord Genuity Group decreased their price objective on shares of Celldex Therapeutics from $62.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. UBS Group boosted their price objective on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Finally, Morgan Stanley dropped their target price on shares of Celldex Therapeutics from $44.00 to $40.00 and set an "overweight" rating for the company in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.62.

Celldex Therapeutics Stock Performance

Shares of CLDX opened at $38.06 on Friday. Celldex Therapeutics, Inc. has a 1 year low of $19.72 and a 1 year high of $40.30. The company's 50 day simple moving average is $34.30 and its 200 day simple moving average is $31.03. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -8.93 and a beta of 0.90.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.03). The business had revenue of $0.01 million for the quarter, compared to analysts' expectations of $0.80 million. Equities analysts expect that Celldex Therapeutics, Inc. will post -4.36 EPS for the current fiscal year.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted immunotherapies for cancer and other serious diseases. The company's research platforms leverage novel antibody and vaccine technologies designed to engage the patient's immune system, with a particular emphasis on oncology and neurologic indications. Celldex's pipeline includes both monoclonal antibodies and biologic agents that seek to modulate immune responses or deliver targeted cytotoxic activity.

Among Celldex's lead product candidates is glembatumumab vedotin, an antibody–drug conjugate directed against the glycoprotein NMB (gpNMB) for the treatment of certain breast and skin cancers.

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