Northern Trust Corp Lowers Stock Holdings in 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 lowered its position in Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 3.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 577,361 shares of the biopharmaceutical company's stock after selling 20,244 shares during the period. Northern Trust Corp owned about 0.87% of Celldex Therapeutics worth $10,479,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Celldex Therapeutics by 6,665.9% in the first 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 acquired a new stake in shares of Celldex Therapeutics during the 4th quarter valued at approximately $233,000. Ameriprise Financial Inc. acquired a new stake in shares of Celldex Therapeutics during the 4th quarter valued at approximately $251,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Celldex Therapeutics during the 1st quarter valued at approximately $269,000. Finally, Apella Capital LLC acquired a new stake in shares of Celldex Therapeutics during the 1st quarter valued at approximately $309,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. HC Wainwright reduced their price target on shares of Celldex Therapeutics from $50.00 to $42.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. 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 research report on Wednesday, August 20th. Citigroup reduced their price target on shares of Celldex Therapeutics from $56.00 to $48.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. Finally, Wells Fargo & Company reduced their price target on shares of Celldex Therapeutics from $44.00 to $38.00 and set an "overweight" rating for the company in a research 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 company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $46.67.

Celldex Therapeutics Stock Up 1.0%

Shares of CLDX traded up $0.24 during mid-day trading on Thursday, reaching $25.20. 1,135,084 shares of the company's stock were exchanged, compared to its average volume of 1,579,410. The company has a 50-day simple moving average of $22.70 and a two-hundred day simple moving average of $20.71. Celldex Therapeutics, Inc. has a 52-week low of $14.40 and a 52-week high of $47.00. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -8.37 and a beta of 1.19.

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

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.