Braidwell LP Makes New Investment in Celldex Therapeutics, Inc. $CLDX

Key Points

• Braidwell LP bought a new stake of 591,689 shares in Celldex Therapeutics (CLDX), worth about $15.3 million, representing roughly 0.89% ownership at the end of the quarter.
• Other institutions also increased exposure—Vestal Point Capital boosted its position by 781% to 1,750,000 shares (~$35.6M) and Wellington Management now holds 5,800,003 shares (~$150.0M).
• Analysts hold a consensus " Moderate Buy " rating with a $44.50 target, while Celldex reported a miss with Q4 EPS of ($1.22) versus ($1.00) expected and the stock trades around $29.51 with a $1.96 billion market cap.

Braidwell LP bought a new stake in Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 591,689 shares of the biopharmaceutical company's stock, valued at approximately $15,307,000. Braidwell LP owned about 0.89% of Celldex Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CLDX. Vestal Point Capital LP raised its position in Celldex Therapeutics by 781.0% in the 2nd quarter. Vestal Point Capital LP now owns 1,750,000 shares of the biopharmaceutical company's stock valued at $35,612,000 after purchasing an additional 1,551,354 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Celldex Therapeutics by 10.8% during the third quarter. Wellington Management Group LLP now owns 5,800,003 shares of the biopharmaceutical company's stock worth $150,046,000 after purchasing an additional 567,677 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Celldex Therapeutics during the second quarter worth $7,894,000. Millennium Management LLC increased its stake in shares of Celldex Therapeutics by 327.3% in the first quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company's stock valued at $7,259,000 after buying an additional 306,330 shares in the last quarter. Finally, Bellevue Group AG raised its holdings in shares of Celldex Therapeutics by 7.6% in the third quarter. Bellevue Group AG now owns 3,557,669 shares of the biopharmaceutical company's stock valued at $92,037,000 after buying an additional 250,100 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CLDX. The Goldman Sachs Group upped their price target on shares of Celldex Therapeutics from $30.00 to $34.00 and gave the stock a "neutral" rating in a research report on Monday, March 2nd. Barclays boosted their target price on shares of Celldex Therapeutics from $21.00 to $24.00 and gave the stock an "underweight" rating in a research note on Wednesday, December 17th. Stifel Nicolaus reiterated a "buy" rating and set a $68.00 target price (up from $58.00) on shares of Celldex Therapeutics in a research report on Thursday, February 26th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Celldex Therapeutics in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Celldex Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $44.50.

Celldex Therapeutics Stock Down 1.2%

Shares of CLDX opened at $29.51 on Friday. The stock's fifty day simple moving average is $26.34 and its 200-day simple moving average is $25.98. The firm has a market capitalization of $1.96 billion, a PE ratio of -7.59 and a beta of 1.17. Celldex Therapeutics, Inc. has a 12-month low of $14.40 and a 12-month high of $31.99.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing analysts' consensus estimates of ($1.00) by ($0.22). The firm had revenue of $0.12 million during the quarter, compared to analyst estimates of $1.53 million. Celldex Therapeutics had a negative return on equity of 41.67% and a negative net margin of 3,446.88%. Analysts anticipate that Celldex Therapeutics, Inc. will post -2.48 EPS for the current 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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