Northern Trust Corp Sells 20,244 Shares of Celldex Therapeutics, Inc. $CLDX

Key Points

• Northern Trust Corp reduced its stake in Celldex Therapeutics by 3.4%, selling 20,244 shares, and now owns approximately 0.87% of the company valued at $10.5 million.
• Several institutional investors, including GAMMA Investing LLC and HSBC Holdings PLC, have increased their stakes or made new investments in Celldex Therapeutics, pointing to growing interest.
• Analysts maintain a consensus rating of "Moderate Buy" for Celldex Therapeutics, with an average price target of $46.67, despite recent reductions in price objectives from multiple research firms.

Northern Trust Corp decreased its stake in Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 577,361 shares of the biopharmaceutical company's stock after selling 20,244 shares during the period. Northern Trust Corp owned approximately 0.87% of Celldex Therapeutics worth $10,479,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in Celldex Therapeutics by 6,665.9% in the 1st quarter. GAMMA Investing LLC now owns 2,977 shares of the biopharmaceutical company's stock valued at $54,000 after purchasing an additional 2,933 shares during the period. Hsbc Holdings PLC bought a new stake in Celldex Therapeutics in the 4th quarter valued at $233,000. Ameriprise Financial Inc. bought a new stake in Celldex Therapeutics in the 4th quarter valued at $251,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Celldex Therapeutics in the 1st quarter valued at $269,000. Finally, Apella Capital LLC bought a new stake in Celldex Therapeutics in the 1st quarter valued at $309,000.

Wall Street Analysts Forecast Growth

CLDX has been the subject of a number of research reports. Canaccord Genuity Group reduced their price target 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. Morgan Stanley reduced their price objective on Celldex Therapeutics from $46.00 to $43.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. UBS Group reduced their price objective on Celldex Therapeutics from $44.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, May 9th. The Goldman Sachs Group reduced their price objective on Celldex Therapeutics from $36.00 to $31.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Finally, HC Wainwright reduced their price objective 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. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $46.67.

Celldex Therapeutics Stock Performance

NASDAQ:CLDX opened at $22.87 on Friday. The company has a 50-day moving average of $22.46 and a 200-day moving average of $20.65. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -7.60 and a beta of 1.19. Celldex Therapeutics, Inc. has a 52 week low of $14.40 and a 52 week high of $47.00.

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

Celldex Therapeutics Profile

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.

Want to see what other hedge funds are holding CLDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.