Redmile Group LLC Reduces Position in Celldex Therapeutics, Inc. $CLDX

Key Points

• Redmile Group LLC decreased its stake in Celldex Therapeutics by 4.2%, now owning 590,175 shares valued at approximately $10.7 million, making it the company's 23rd largest holding.
• Several institutional investors, including GAMMA Investing LLC and AlphaQuest LLC, significantly increased their stakes in Celldex during the first quarter.
• Celldex Therapeutics reported a quarterly loss of ($0.85) per share, narrowly beating analysts' expectations, alongside a revenue of $0.73 million, lower than the forecasted $1.13 million.

Redmile Group LLC cut its stake in shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 4.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 590,175 shares of the biopharmaceutical company's stock after selling 25,600 shares during the quarter. Celldex Therapeutics accounts for about 1.0% of Redmile Group LLC's portfolio, making the stock its 23rd largest position. Redmile Group LLC owned about 0.89% of Celldex Therapeutics worth $10,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Celldex Therapeutics by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 3,898,435 shares of the biopharmaceutical company's stock worth $70,757,000 after buying an additional 16,440 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Celldex Therapeutics by 50.8% in the 4th quarter. Point72 Asset Management L.P. now owns 2,515,972 shares of the biopharmaceutical company's stock valued at $63,579,000 after acquiring an additional 847,264 shares in the last quarter. Deep Track Capital LP bought a new stake in shares of Celldex Therapeutics in the 4th quarter valued at $38,919,000. American Century Companies Inc. increased its stake in shares of Celldex Therapeutics by 2.8% in the 1st quarter. American Century Companies Inc. now owns 625,321 shares of the biopharmaceutical company's stock valued at $11,350,000 after acquiring an additional 16,864 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Celldex Therapeutics by 6.2% in the 4th quarter. Northern Trust Corp now owns 597,605 shares of the biopharmaceutical company's stock valued at $15,101,000 after acquiring an additional 34,885 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley decreased their price target on shares of Celldex Therapeutics from $46.00 to $43.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. The Goldman Sachs Group decreased their price target on shares of Celldex Therapeutics from $36.00 to $31.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Citigroup decreased 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 note on Wednesday, August 20th. Wells Fargo & Company decreased 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 note on Wednesday, August 20th. Finally, UBS Group decreased their price target on shares of Celldex Therapeutics from $44.00 to $38.00 and set a "buy" rating for the company in a research note on Friday, May 9th. 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, Celldex Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.67.

Celldex Therapeutics Trading Up 0.4%

Shares of NASDAQ:CLDX traded up $0.09 during midday trading on Friday, reaching $22.87. The company had a trading volume of 1,140,628 shares, compared to its average volume of 1,571,091. The company's 50 day moving average price is $22.46 and its 200 day moving average price is $20.65. The stock has a market cap of $1.52 billion, a P/E 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 issued its quarterly earnings results 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. The company had revenue of $0.73 million for the quarter, compared to the consensus estimate of $1.13 million. Celldex Therapeutics had a negative net margin of 3,446.88% and a negative return on equity of 27.61%. Research analysts forecast that Celldex Therapeutics, Inc. will post -2.48 EPS for the current fiscal 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.