Celldex Therapeutics, Inc. $CLDX Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its Celldex Therapeutics stake by 70.8% in the first quarter, acquiring 293,759 additional shares for a total of 708,647 shares valued at approximately $22.5 million.
• Analyst sentiment remains favorable overall, with Celldex holding a “Moderate Buy” consensus rating and an average price target of $55.46, despite differing individual targets and ratings.
• CLDX shares opened at $41.92, near their 52-week high, while the company reported a quarterly loss of $0.94 per share—better than the expected $1.06 loss—and essentially no revenue.

Bank of America Corp DE raised its holdings in Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 70.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 708,647 shares of the biopharmaceutical company's stock after acquiring an additional 293,759 shares during the quarter. Bank of America Corp DE owned 0.90% of Celldex Therapeutics worth $22,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in Celldex Therapeutics in the 3rd quarter worth $42,000. Russell Investments Group Ltd. raised its stake 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 acquiring an additional 501 shares in the last quarter. Quantbot Technologies LP bought a new position in Celldex Therapeutics during the 3rd quarter valued at about $63,000. Kestra Advisory Services LLC acquired a new stake in shares of Celldex Therapeutics during the fourth quarter worth approximately $98,000. Finally, Advisory Services Network LLC bought a new position in shares of Celldex Therapeutics in the third quarter valued at approximately $139,000.

Analysts Set New Price Targets

A number of brokerages have weighed in on CLDX. Wall Street Zen raised shares of Celldex Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Sunday, July 12th. Guggenheim boosted their target price on Celldex Therapeutics from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Celldex Therapeutics in a research note on Friday, July 17th. Wells Fargo & Company raised their price objective on shares of Celldex Therapeutics from $48.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Finally, Cantor Fitzgerald dropped their target price on shares of Celldex Therapeutics from $67.00 to $61.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Celldex Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $55.46.

Celldex Therapeutics Trading Down 0.1%

Shares of NASDAQ CLDX opened at $41.92 on Tuesday. Celldex Therapeutics, Inc. has a 1-year low of $20.37 and a 1-year high of $45.14. The firm has a market capitalization of $3.29 billion, a P/E ratio of -9.64 and a beta of 0.87. The firm's 50-day moving average price is $36.85 and its 200-day moving average price is $32.29.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last posted its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.12. The business had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.73 million. Equities research analysts forecast that Celldex Therapeutics, Inc. will post -4.13 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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