Affinity Asset Advisors LLC Acquires 150,000 Shares of Celldex Therapeutics, Inc. $CLDX

Key Points

• Affinity Asset Advisors increased its stake in Celldex Therapeutics by 42.9% in the first quarter, buying 150,000 more shares and bringing its total holding to 500,000 shares worth about $15.86 million.
• Several other major hedge funds also boosted their positions in CLDX, including Wellington Management, Vanguard, Bellevue Group, Commodore Capital, and State Street, indicating continued institutional interest in the stock.
• Analysts remain mixed but generally constructive: the stock has a Moderate Buy consensus and an average price target of $52.77, even as recent reports showed mixed rating changes and the company posted a quarterly EPS miss.

Affinity Asset Advisors LLC boosted its holdings in Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 42.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 500,000 shares of the biopharmaceutical company's stock after acquiring an additional 150,000 shares during the period. Affinity Asset Advisors LLC owned 0.64% of Celldex Therapeutics worth $15,860,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CLDX. Wellington Management Group LLP lifted its holdings in Celldex Therapeutics by 39.3% during the 4th quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company's stock worth $219,442,000 after purchasing an additional 2,279,605 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Celldex Therapeutics by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 4,027,407 shares of the biopharmaceutical company's stock valued at $109,384,000 after acquiring an additional 72,817 shares in the last quarter. Bellevue Group AG raised its stake in Celldex Therapeutics by 7.6% in the 3rd quarter. Bellevue Group AG now owns 3,557,669 shares of the biopharmaceutical company's stock worth $92,037,000 after purchasing an additional 250,100 shares in the last quarter. Commodore Capital LP boosted its holdings in Celldex Therapeutics by 7.8% in the 2nd quarter. Commodore Capital LP now owns 3,450,000 shares of the biopharmaceutical company's stock valued at $70,208,000 after purchasing an additional 250,000 shares during the period. Finally, State Street Corp boosted its holdings in Celldex Therapeutics by 19.5% in the 4th quarter. State Street Corp now owns 3,397,713 shares of the biopharmaceutical company's stock valued at $92,282,000 after purchasing an additional 555,579 shares during the period.

Analysts Set New Price Targets

CLDX has been the topic of several recent research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Celldex Therapeutics in a report on Friday, July 17th. UBS Group raised their price target on Celldex Therapeutics from $38.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Morgan Stanley decreased their target price on shares of Celldex Therapeutics from $44.00 to $40.00 and set an "overweight" rating on the stock in a report on Wednesday. Wall Street Zen upgraded shares of Celldex Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Sunday, July 12th. Finally, Wells Fargo & Company cut their price target on shares of Celldex Therapeutics from $54.00 to $48.00 and set an "overweight" rating for the company in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $52.77.

Celldex Therapeutics Stock Down 0.4%

CLDX stock opened at $35.28 on Friday. The stock's 50 day moving average is $33.64 and its 200-day moving average is $30.68. Celldex Therapeutics, Inc. has a twelve month low of $19.72 and a twelve month high of $40.30. The firm has a market capitalization of $2.77 billion, a PE ratio of -8.28 and a beta of 0.90.

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

About Celldex Therapeutics

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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