Celldex Therapeutics, Inc. $CLDX Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Celldex Therapeutics stake by 43.6% in the third quarter, selling 343,774 shares and retaining 444,922 shares valued at approximately $14.42 million.
• Celldex shares opened at $29.67, below their 50-day and 200-day moving averages, and have traded between $22.10 and $45.14 over the past year.
• Analyst sentiment remains broadly positive, with 12 Buy ratings, one Hold and one Sell; the average price target is $61.92, despite the company reporting a quarterly loss of $0.94 per share.

Assenagon Asset Management S.A. lessened its stake in Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 43.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 444,922 shares of the biopharmaceutical company's stock after selling 343,774 shares during the period. Assenagon Asset Management S.A. owned about 0.57% of Celldex Therapeutics worth $14,420,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Nykredit A S bought a new stake in Celldex Therapeutics in the second quarter valued at $67,000. Diversified Trust Co bought a new position in Celldex Therapeutics during the 1st quarter valued at about $223,000. Walleye Capital LLC bought a new position in Celldex Therapeutics during the 1st quarter valued at about $258,000. Amundi acquired a new position in Celldex Therapeutics in the first quarter valued at about $297,000. Finally, Glenmede Trust Co. NA acquired a new position in Celldex Therapeutics in the first quarter valued at about $357,000.

Celldex Therapeutics Stock Performance

CLDX opened at $29.67 on Tuesday. Celldex Therapeutics, Inc. has a 1-year low of $22.10 and a 1-year high of $45.14. The firm has a 50-day moving average price of $36.29 and a two-hundred day moving average price of $34.83.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.06) by $0.12. The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.73 million. As a group, equities research analysts predict that Celldex Therapeutics, Inc. will post -4.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CLDX has been the topic of several research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Celldex Therapeutics in a research note on Thursday. 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 report on Wednesday, July 29th. Canaccord Genuity Group cut their target price on shares of Celldex Therapeutics from $62.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Morgan Stanley boosted their target price on Celldex Therapeutics from $50.00 to $57.00 and gave the stock an "overweight" rating in a report on Wednesday, September 23rd. Finally, Leerink Partners boosted their target price on Celldex Therapeutics from $70.00 to $88.00 and gave the stock an "outperform" rating in a report on Wednesday, September 23rd. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Celldex Therapeutics has an average rating of "Moderate Buy" and an average target price of $61.92.

Celldex Therapeutics Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based therapies for diseases with significant unmet medical needs. The company's research programs target mast cell–mediated disorders, inflammatory diseases, and cancer, using engineered antibodies designed to modulate specific immune-system pathways.

Celldex's lead product candidate is barzolvolimab, an investigational monoclonal antibody that targets the KIT receptor on mast cells.

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