Engineers Gate Manager LP Takes $1.26 Million Position in Celldex Therapeutics, Inc. $CLDX

Key Points

• Engineers Gate Manager LP acquired 33,842 shares of Celldex Therapeutics in the second quarter, valued at approximately $1.26 million. Several other institutional investors, including Wellington Management and Dimensional Fund Advisors, also increased their positions.
• Analysts maintain a generally positive view of CLDX, with an average rating of “Moderate Buy” and an average price target of $56.42. Recent target prices range from $42 to $61, though one analyst downgraded the stock to “Sell.”
• Celldex shares opened at $38.98, with a market capitalization of $3.06 billion and a 52-week range of $22.10 to $45.14. The clinical-stage biopharmaceutical company is developing antibody therapies, led by barzolvolimab for immune-mediated diseases.

Engineers Gate Manager LP acquired a new stake in Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 33,842 shares of the biopharmaceutical company's stock, valued at approximately $1,259,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in shares of Celldex Therapeutics by 11.5% during the 2nd quarter. Wellington Management Group LLP now owns 9,543,671 shares of the biopharmaceutical company's stock worth $355,120,000 after purchasing an additional 983,195 shares during the last quarter. Commodore Capital LP grew its stake in Celldex Therapeutics by 5.1% in the first quarter. Commodore Capital LP now owns 2,696,616 shares of the biopharmaceutical company's stock valued at $85,537,000 after purchasing an additional 131,616 shares during the last quarter. Eversept Partners LP grew its stake in Celldex Therapeutics by 24.6% in the first quarter. Eversept Partners LP now owns 1,788,016 shares of the biopharmaceutical company's stock valued at $56,716,000 after purchasing an additional 353,291 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Celldex Therapeutics by 62.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,059,534 shares of the biopharmaceutical company's stock worth $33,596,000 after purchasing an additional 407,818 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Celldex Therapeutics by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 937,158 shares of the biopharmaceutical company's stock worth $25,453,000 after purchasing an additional 10,001 shares in the last quarter.

Analyst Ratings Changes

CLDX has been the subject of several analyst reports. UBS Group increased their price objective on Celldex Therapeutics from $38.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, June 10th. HC Wainwright restated a "buy" rating and set a $42.00 target price on shares of Celldex Therapeutics in a research note on Monday, June 15th. Cantor Fitzgerald reduced their target price on Celldex Therapeutics from $67.00 to $61.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 22nd. Wall Street Zen upgraded Celldex Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Sunday, July 12th. Finally, Morgan Stanley increased their price target on Celldex Therapeutics from $46.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, September 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 given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $56.42.

Celldex Therapeutics Stock Performance

NASDAQ CLDX opened at $38.98 on Friday. The firm has a market capitalization of $3.06 billion, a P/E ratio of -8.96 and a beta of 0.84. The stock has a 50-day simple moving average of $39.15 and a two-hundred day simple moving average of $34.69. Celldex Therapeutics, Inc. has a fifty-two week low of $22.10 and a fifty-two week high of $45.14.

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

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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