Corient Private Wealth LP Grows Stock Holdings in Celldex Therapeutics, Inc. $CLDX

Key Points

• Corient Private Wealth LP increased its Celldex Therapeutics stake by 1,109% in the second quarter, adding 162,320 shares to own 176,956 shares valued at approximately $6.6 million.
• Several other institutional investors also expanded their positions, while Celldex shares opened at $38.98, with a market capitalization of about $3.06 billion.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $56.42, despite the company reporting a quarterly loss of $0.94 per share.

Corient Private Wealth LP boosted its holdings in Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 1,109.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,956 shares of the biopharmaceutical company's stock after acquiring an additional 162,320 shares during the quarter. Corient Private Wealth LP owned 0.23% of Celldex Therapeutics worth $6,585,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantinno Capital Management LP boosted its holdings in Celldex Therapeutics by 178.7% in the first quarter. Quantinno Capital Management LP now owns 65,744 shares of the biopharmaceutical company's stock worth $2,085,000 after purchasing an additional 42,158 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Celldex Therapeutics by 70.8% in the first quarter. Bank of America Corp DE now owns 708,647 shares of the biopharmaceutical company's stock worth $22,478,000 after acquiring an additional 293,759 shares during the period. First Trust Advisors LP raised its stake in Celldex Therapeutics by 78.7% during the 1st quarter. First Trust Advisors LP now owns 68,470 shares of the biopharmaceutical company's stock valued at $2,172,000 after purchasing an additional 30,157 shares during the period. Sei Investments Co. purchased a new position in Celldex Therapeutics in the 1st quarter worth approximately $1,210,000. Finally, Seven Fleet Capital Management LP purchased a new position in Celldex Therapeutics in the 1st quarter worth approximately $929,000.

Celldex Therapeutics Stock Up 0.7%

CLDX stock opened at $38.98 on Friday. Celldex Therapeutics, Inc. has a twelve month low of $22.10 and a twelve month high of $45.14. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of -8.96 and a beta of 0.84. The firm's fifty day simple moving average is $39.15 and its two-hundred day simple moving average is $34.69.

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, beating 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. As a group, equities research analysts expect that Celldex Therapeutics, Inc. will post -4.17 EPS for the current year.

Wall Street Analysts Forecast Growth

CLDX has been the subject of a number of research reports. Canaccord Genuity Group dropped 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 report on Wednesday, July 22nd. Wall Street Zen upgraded shares of Celldex Therapeutics from a "strong sell" rating to a "sell" rating in a report on Sunday, July 12th. Wells Fargo & Company boosted their price target on shares of Celldex Therapeutics from $48.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Guggenheim lifted their price objective on Celldex Therapeutics from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Finally, UBS Group upped their price target on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Celldex Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $56.42.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based therapeutics for diseases with significant unmet medical needs. The company's research programs address conditions in immunology, inflammation, oncology and other areas where targeted immune-system modulation may provide therapeutic benefits.

Celldex's lead investigational product is barzolvolimab, an antibody designed to block the KIT receptor and reduce mast cells. The therapy is being studied in immune-mediated diseases, including chronic spontaneous urticaria and prurigo nodularis.

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