Celldex Therapeutics, Inc. $CLDX Shares Sold by Segall Bryant & Hamill LLC

Key Points

• Segall Bryant & Hamill LLC reduced its Celldex Therapeutics stake by 32.6% in the first quarter, selling 167,612 shares and retaining 346,919 shares worth approximately $11.0 million.
• Celldex shares opened at $38.06, near their 12-month high of $40.30, while the company reported a quarterly loss of $1.18 per share—slightly worse than analyst expectations—and negligible revenue.
• Wall Street remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $54.62, despite mixed target-price revisions from individual analysts.

Segall Bryant & Hamill LLC cut its stake in shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 32.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 346,919 shares of the biopharmaceutical company's stock after selling 167,612 shares during the period. Segall Bryant & Hamill LLC owned about 0.44% of Celldex Therapeutics worth $11,004,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tudor Investment Corp ET AL purchased a new position in Celldex Therapeutics in the 3rd quarter valued at about $818,000. SG Americas Securities LLC increased its stake in Celldex Therapeutics by 143.2% during the 4th quarter. SG Americas Securities LLC now owns 47,340 shares of the biopharmaceutical company's stock worth $1,286,000 after buying an additional 27,872 shares in the last quarter. PSP Research LLC acquired a new position in shares of Celldex Therapeutics during the fourth quarter valued at approximately $553,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Celldex Therapeutics during the first quarter valued at approximately $1,433,000. Finally, Commodore Capital LP raised its holdings in shares of Celldex Therapeutics by 5.1% during the first quarter. Commodore Capital LP now owns 2,696,616 shares of the biopharmaceutical company's stock valued at $85,537,000 after acquiring an additional 131,616 shares during the last quarter.

Celldex Therapeutics Price Performance

Shares of CLDX stock opened at $38.06 on Monday. The firm's 50-day moving average is $34.30 and its two-hundred day moving average is $31.07. Celldex Therapeutics, Inc. has a 12 month low of $19.72 and a 12 month high of $40.30. The company has a market capitalization of $2.99 billion, a PE ratio of -8.93 and a beta of 0.87.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.15) by ($0.03). The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.80 million. Sell-side analysts forecast that Celldex Therapeutics, Inc. will post -4.36 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on CLDX. Guggenheim increased their price objective on Celldex Therapeutics from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Cantor Fitzgerald lowered their target price on shares of Celldex Therapeutics from $67.00 to $61.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 22nd. Morgan Stanley dropped their target price on shares of Celldex Therapeutics from $44.00 to $40.00 and set an "overweight" rating for the company in a report on Wednesday, July 22nd. UBS Group increased their target price on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, June 10th. Finally, HC Wainwright reissued a "buy" rating and issued a $42.00 price target on shares of Celldex Therapeutics in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Celldex Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $54.62.

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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