Sovran Advisors LLC Buys New Position in Celldex Therapeutics, Inc. $CLDX

Key Points

• Sovran Advisors LLC acquired 39,476 shares of Celldex Therapeutics, valued at approximately $842,000, representing a 0.06% ownership stake in the company.
• Celldex Therapeutics' stock opened at $25.92 and has fluctuated between a twelve month low of $14.40 and a high of $47.00, with a current market capitalization of $1.72 billion.
• Equities analysts have a consensus rating of "Moderate Buy" for Celldex Therapeutics, with target prices ranging from $38.00 to $62.00.

Sovran Advisors LLC bought a new position in shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 39,476 shares of the biopharmaceutical company's stock, valued at approximately $842,000. Sovran Advisors LLC owned about 0.06% of Celldex Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CLDX. Ameriprise Financial Inc. bought a new position in Celldex Therapeutics during the fourth quarter worth about $251,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Celldex Therapeutics by 9.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,771 shares of the biopharmaceutical company's stock worth $1,080,000 after purchasing an additional 3,830 shares during the period. ProShare Advisors LLC raised its position in shares of Celldex Therapeutics by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 18,192 shares of the biopharmaceutical company's stock worth $460,000 after purchasing an additional 5,986 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Celldex Therapeutics during the fourth quarter worth about $835,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Celldex Therapeutics by 13.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,317 shares of the biopharmaceutical company's stock worth $2,939,000 after purchasing an additional 13,722 shares during the period.

Analyst Upgrades and Downgrades

CLDX has been the topic of a number of research analyst reports. HC Wainwright dropped their price target on Celldex Therapeutics from $50.00 to $42.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Citigroup dropped their price target on Celldex Therapeutics from $56.00 to $48.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Canaccord Genuity Group reissued a "buy" rating and issued a $62.00 target price on shares of Celldex Therapeutics in a research report on Wednesday. Finally, Wells Fargo & Company dropped their target price on Celldex Therapeutics from $44.00 to $38.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $46.67.

Celldex Therapeutics Stock Down 5.1%

Shares of NASDAQ CLDX traded down $1.31 during midday trading on Friday, hitting $24.61. 2,473,738 shares of the company's stock were exchanged, compared to its average volume of 1,381,859. The company's 50 day moving average price is $23.02 and its 200 day moving average price is $20.89. The firm has a market capitalization of $1.63 billion, a PE ratio of -8.18 and a beta of 1.19. Celldex Therapeutics, Inc. has a 12 month low of $14.40 and a 12 month high of $47.00.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.01. The firm had revenue of $0.73 million during 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, equities research analysts anticipate that Celldex Therapeutics, Inc. will post -2.48 EPS for the current year.

Celldex Therapeutics 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.