Celldex Therapeutics, Inc. $CLDX Shares Sold by Braidwell LP

Key Points

• Braidwell LP cut its Celldex Therapeutics stake by 67.8% in the second quarter, selling 919,436 shares and retaining 436,646 shares valued at approximately $16.25 million.
• Analyst sentiment remains generally positive: CLDX has a consensus “Moderate Buy” rating and an average price target of $56.08, despite some firms lowering their targets and two sources maintaining sell ratings.
• Celldex shares opened at $39.48, with a market capitalization of about $3.10 billion and a 52-week range of $21.77 to $45.14. The company’s latest quarterly loss of $0.94 per share was narrower than analysts expected, although revenue significantly missed estimates.

Braidwell LP lessened its holdings in Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 67.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 436,646 shares of the biopharmaceutical company's stock after selling 919,436 shares during the period. Braidwell LP owned approximately 0.56% of Celldex Therapeutics worth $16,248,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CLDX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Celldex Therapeutics by 1.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company's stock worth $798,000 after purchasing an additional 680 shares during the last quarter. Millennium Management LLC lifted its position in 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Celldex Therapeutics by 12.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,296 shares of the biopharmaceutical company's stock worth $2,383,000 after buying an additional 14,979 shares during the period. Russell Investments Group Ltd. boosted 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 buying an additional 501 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in Celldex Therapeutics during the second quarter worth about $347,000.

Analyst Upgrades and Downgrades

CLDX has been the subject of several research reports. Wall Street Zen upgraded shares of Celldex Therapeutics from a "strong sell" rating to a "sell" rating in a report on Sunday, July 12th. Canaccord Genuity Group decreased their price target on Celldex Therapeutics from $62.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Cantor Fitzgerald lowered their price target on Celldex Therapeutics from $67.00 to $61.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. Morgan Stanley lifted their price objective on Celldex Therapeutics from $40.00 to $46.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Celldex Therapeutics in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $56.08.

Celldex Therapeutics Stock Performance

Shares of CLDX stock opened at $39.48 on Thursday. The stock has a market capitalization of $3.10 billion, a P/E ratio of -9.08 and a beta of 0.84. The company has a 50 day moving average price of $38.88 and a 200 day moving average price of $33.65. Celldex Therapeutics, Inc. has a fifty-two week low of $21.77 and a fifty-two week high of $45.14.

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 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 analysts' expectations of $0.73 million. On average, research analysts forecast that Celldex Therapeutics, Inc. will post -4.13 EPS for the current fiscal year.

Celldex Therapeutics Company 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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