Cinctive Capital Management LP Reduces Holdings in Celldex Therapeutics, Inc. $CLDX

Key Points

• Cinctive Capital Management LP reduced its position in Celldex Therapeutics by 46.6%, selling 37,925 shares and retaining approximately 43,395 shares worth $788,000.
• Several hedge funds, including Deutsche Bank AG and Northern Trust Corp, have increased their stakes in the company, with Deutsche Bank boosting its stake by 13.8%.
• The stock currently has a market capitalization of $1.52 billion and analysts have set a consensus price target of $46.67, with a moderate buy rating from seven research analysts.

Cinctive Capital Management LP lessened its holdings in Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 46.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,395 shares of the biopharmaceutical company's stock after selling 37,925 shares during the quarter. Cinctive Capital Management LP owned 0.07% of Celldex Therapeutics worth $788,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CLDX. GAMMA Investing LLC raised its position in shares of Celldex Therapeutics by 6,665.9% in the 1st quarter. GAMMA Investing LLC now owns 2,977 shares of the biopharmaceutical company's stock worth $54,000 after acquiring an additional 2,933 shares in the last quarter. AlphaQuest LLC boosted its stake in shares of Celldex Therapeutics by 182.5% in the 1st quarter. AlphaQuest LLC now owns 12,112 shares of the biopharmaceutical company's stock worth $220,000 after buying an additional 7,825 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Celldex Therapeutics during the fourth quarter valued at approximately $233,000. Ameriprise Financial Inc. purchased a new stake in Celldex Therapeutics in the fourth quarter worth about $251,000. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of Celldex Therapeutics in the first quarter worth $265,000.

Celldex Therapeutics Trading Up 1.0%

NASDAQ:CLDX traded up $0.24 during trading hours on Thursday, hitting $25.20. The company had a trading volume of 1,135,084 shares, compared to its average volume of 1,579,410. The company has a 50-day moving average of $22.70 and a 200 day moving average of $20.71. Celldex Therapeutics, Inc. has a 1 year low of $14.40 and a 1 year high of $47.00. The company has a market cap of $1.67 billion, a P/E ratio of -8.37 and a beta of 1.19.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.86) by $0.01. Celldex Therapeutics had a negative return on equity of 27.61% and a negative net margin of 3,446.88%.The company had revenue of $0.73 million during the quarter, compared to analysts' expectations of $1.13 million. On average, analysts forecast that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CLDX shares. Canaccord Genuity Group cut their price objective on shares of Celldex Therapeutics from $64.00 to $62.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Wells Fargo & Company lowered their price target on shares of Celldex Therapeutics from $44.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. HC Wainwright lowered their target price on shares of Celldex Therapeutics from $50.00 to $42.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Finally, Citigroup cut their price target on shares of Celldex Therapeutics from $56.00 to $48.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Celldex Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $46.67.

About Celldex Therapeutics

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.