Polar Asset Management Partners Inc. Sells 110,161 Shares of Celldex Therapeutics, Inc. $CLDX

Key Points

• Polar Asset Management Partners Inc. reduced its stake in Celldex Therapeutics by 80.1%, holding 27,389 shares valued at about $497,000 as of its latest SEC filing.
• Celldex Therapeutics reported an earnings per share (EPS) of ($0.85) for the last quarter, slightly beating analyst expectations of ($0.86), while its revenue was $0.73 million against an estimate of $1.13 million.
• Several analysts downgraded their price targets for Celldex Therapeutics shares, which now range between $38.00 and $64.00, with a current average rating of "Moderate Buy".

Polar Asset Management Partners Inc. cut its holdings in shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 80.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,389 shares of the biopharmaceutical company's stock after selling 110,161 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Celldex Therapeutics were worth $497,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Celldex Therapeutics by 1.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company's stock worth $798,000 after acquiring an additional 680 shares during the last quarter. Values First Advisors Inc. grew its holdings in shares of Celldex Therapeutics by 3.2% during the first quarter. Values First Advisors Inc. now owns 29,933 shares of the biopharmaceutical company's stock worth $550,000 after purchasing an additional 924 shares in the last quarter. Jump Financial LLC lifted its position in Celldex Therapeutics by 16.6% in the 1st quarter. Jump Financial LLC now owns 19,248 shares of the biopharmaceutical company's stock worth $349,000 after buying an additional 2,735 shares during the last quarter. GAMMA Investing LLC boosted its stake 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 worth $54,000 after buying an additional 2,933 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Celldex Therapeutics by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 18,192 shares of the biopharmaceutical company's stock worth $460,000 after buying an additional 5,986 shares in the last quarter.

Celldex Therapeutics Trading Down 1.3%

CLDX stock traded down $0.34 during midday trading on Friday, hitting $24.86. The company had a trading volume of 667,010 shares, compared to its average volume of 1,023,559. Celldex Therapeutics, Inc. has a 52 week low of $14.40 and a 52 week high of $47.00. The stock's 50 day moving average price is $22.70 and its 200 day moving average price is $20.71. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -8.23 and a beta of 1.19.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.01. The firm had revenue of $0.73 million during the quarter, compared to the consensus estimate of $1.13 million. Celldex Therapeutics had a negative return on equity of 27.61% and a negative net margin of 3,446.88%. Analysts predict that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on CLDX. Wells Fargo & Company cut their target price on Celldex Therapeutics from $44.00 to $38.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Canaccord Genuity Group cut their target price on Celldex Therapeutics from $64.00 to $62.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Citigroup cut their target price on Celldex Therapeutics from $56.00 to $48.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Finally, HC Wainwright lowered their price objective on Celldex Therapeutics from $50.00 to $42.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. Seven 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 company currently has a consensus rating of "Moderate Buy" and an average target price of $46.67.

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.