Pictet Asset Management Holding SA Reduces Holdings in Celldex Therapeutics, Inc. $CLDX

Key Points

• Pictet Asset Management reduced its stake in Celldex by 20.1% in Q4, selling 243,374 shares and now holds 968,616 shares (about 1.46%) valued at roughly $26.3 million.
• Analyst sentiment has turned generally positive with multiple upgrades and higher targets (e.g., Stifel $68, Barclays $45, Goldman $34), and the consensus rating is a "Moderate Buy" with a $46.36 target.
• Celldex recently missed quarterly estimates—EPS -$1.22 vs. -$1.00 expected and revenue $0.12M vs. $1.53M expected—and the stock trades near $32.88 with a $2.19 billion market cap and a one‑year range of $17.85–$35.79.

Pictet Asset Management Holding SA reduced its position in shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 20.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 968,616 shares of the biopharmaceutical company's stock after selling 243,374 shares during the period. Pictet Asset Management Holding SA owned about 1.46% of Celldex Therapeutics worth $26,308,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Celldex Therapeutics by 10.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,800,003 shares of the biopharmaceutical company's stock worth $150,046,000 after buying an additional 567,677 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Celldex Therapeutics by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 4,027,407 shares of the biopharmaceutical company's stock valued at $109,384,000 after acquiring an additional 72,817 shares in the last quarter. Bellevue Group AG grew its stake in shares of Celldex Therapeutics by 7.6% during the third quarter. Bellevue Group AG now owns 3,557,669 shares of the biopharmaceutical company's stock valued at $92,037,000 after acquiring an additional 250,100 shares in the last quarter. Commodore Capital LP increased its position in shares of Celldex Therapeutics by 7.8% during the second quarter. Commodore Capital LP now owns 3,450,000 shares of the biopharmaceutical company's stock worth $70,208,000 after acquiring an additional 250,000 shares during the last quarter. Finally, Eventide Asset Management LLC increased its position in shares of Celldex Therapeutics by 37.1% during the third quarter. Eventide Asset Management LLC now owns 1,859,095 shares of the biopharmaceutical company's stock worth $48,096,000 after acquiring an additional 502,909 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts recently commented on CLDX shares. The Goldman Sachs Group increased their price target on Celldex Therapeutics from $30.00 to $34.00 and gave the company a "neutral" rating in a report on Monday, March 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Celldex Therapeutics in a report on Monday, April 20th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $68.00 target price (up from $58.00) on shares of Celldex Therapeutics in a research report on Thursday, February 26th. Wolfe Research upgraded Celldex Therapeutics from a "peer perform" rating to an "outperform" rating and set a $44.00 target price for the company in a research note on Monday, March 23rd. Finally, Barclays raised shares of Celldex Therapeutics from an "underweight" rating to an "overweight" rating and raised their price target for the stock from $24.00 to $45.00 in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.36.

Celldex Therapeutics Stock Performance

Shares of CLDX stock opened at $32.88 on Friday. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -8.45 and a beta of 1.19. Celldex Therapeutics, Inc. has a one year low of $17.85 and a one year high of $35.79. The company's 50-day simple moving average is $31.10 and its 200-day simple moving average is $27.71.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.22). The company had revenue of $0.12 million during the quarter, compared to analysts' expectations of $1.53 million. As a group, research analysts forecast that Celldex Therapeutics, Inc. will post -4.87 EPS for the current year.

Celldex Therapeutics Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted immunotherapies for cancer and other serious diseases. The company's research platforms leverage novel antibody and vaccine technologies designed to engage the patient's immune system, with a particular emphasis on oncology and neurologic indications. Celldex's pipeline includes both monoclonal antibodies and biologic agents that seek to modulate immune responses or deliver targeted cytotoxic activity.

Among Celldex's lead product candidates is glembatumumab vedotin, an antibody–drug conjugate directed against the glycoprotein NMB (gpNMB) for the treatment of certain breast and skin cancers.

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