Assenagon Asset Management S.A. Buys 642,171 Shares of Celldex Therapeutics, Inc. $CLDX

Key Points

• Assenagon Asset Management increased its Celldex Therapeutics stake by 438.3% in the second quarter, purchasing 642,171 additional shares and ending with 788,696 shares valued at approximately $29.35 million.
• Analyst sentiment is broadly positive, with the stock holding a “Moderate Buy” consensus rating and an average price target of $55.46. Guggenheim and Wells Fargo recently raised their targets to $100 and $72, respectively.
• Celldex shares opened at $41.71, near their 12-month high of $42.92, while the company reported a quarterly loss of $0.94 per share—better than the expected $1.06 loss—but revenue of just $0.02 million versus a $0.73 million estimate.

Assenagon Asset Management S.A. raised its position in Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 438.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 788,696 shares of the biopharmaceutical company's stock after buying an additional 642,171 shares during the quarter. Assenagon Asset Management S.A. owned about 1.00% of Celldex Therapeutics worth $29,347,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of Celldex Therapeutics by 39.3% in the fourth quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company's stock worth $219,442,000 after acquiring an additional 2,279,605 shares during the last quarter. Vanguard Group Inc. boosted its position in 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 buying an additional 72,817 shares in the last quarter. Bellevue Group AG increased its holdings 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 increased 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 worth $70,208,000 after purchasing an additional 250,000 shares in the last quarter. Finally, State Street Corp raised its position in Celldex Therapeutics by 19.5% in the fourth 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 last quarter.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Celldex Therapeutics in a report on Friday, July 17th. Wall Street Zen raised shares of Celldex Therapeutics from a "strong sell" rating to a "sell" rating in a report on Sunday, July 12th. HC Wainwright restated a "buy" rating and issued a $42.00 price target on shares of Celldex Therapeutics in a research report on Monday, June 15th. Guggenheim boosted their price objective on shares of Celldex Therapeutics from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Finally, Wells Fargo & Company raised their target price on Celldex Therapeutics from $48.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. One research 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $55.46.

Celldex Therapeutics Price Performance

Shares of CLDX opened at $41.71 on Monday. Celldex Therapeutics, Inc. has a 12-month low of $19.72 and a 12-month high of $42.92. The stock has a market cap of $3.27 billion, a P/E ratio of -9.59 and a beta of 0.87. The business's fifty day moving average is $35.19 and its 200 day moving average is $31.58.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last posted its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share for the quarter, beating analysts' consensus estimates of ($1.06) by $0.12. The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.73 million. On average, analysts expect that Celldex Therapeutics, Inc. will post -4.36 EPS for the current year.

Celldex Therapeutics 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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