Seven Fleet Capital Management LP Raises Stock Position in Celldex Therapeutics, Inc. $CLDX

Key Points

• Seven Fleet Capital Management increased its Celldex Therapeutics stake by 195.8% in the second quarter, holding 86,664 shares valued at approximately $3.2 million. Several other institutional investors also significantly expanded their positions.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $56.08, despite one sell rating. Recent targets range from $42 to $72.
• Celldex shares opened at $40.57, near their 52-week high of $45.14. The company beat quarterly EPS estimates, reporting a loss of $0.94 per share versus the expected $1.06 loss, though revenue was well below estimates.

Seven Fleet Capital Management LP grew its stake in shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 195.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,664 shares of the biopharmaceutical company's stock after acquiring an additional 57,364 shares during the period. Seven Fleet Capital Management LP owned about 0.11% of Celldex Therapeutics worth $3,225,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CLDX. Wellington Management Group LLP increased its stake in Celldex Therapeutics by 39.3% in the 4th quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company's stock valued at $219,442,000 after purchasing an additional 2,279,605 shares in the last quarter. Vestal Point Capital LP boosted its position in Celldex Therapeutics by 781.0% during the second quarter. Vestal Point Capital LP now owns 1,750,000 shares of the biopharmaceutical company's stock worth $35,612,000 after purchasing an additional 1,551,354 shares in the last quarter. Braidwell LP grew its holdings in Celldex Therapeutics by 214.0% in the fourth quarter. Braidwell LP now owns 1,858,109 shares of the biopharmaceutical company's stock valued at $50,466,000 after purchasing an additional 1,266,420 shares during the last quarter. Elmind Capital LP acquired a new stake in Celldex Therapeutics in the fourth quarter valued at $23,493,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Celldex Therapeutics by 438.3% in the second quarter. Assenagon Asset Management S.A. now owns 788,696 shares of the biopharmaceutical company's stock valued at $29,347,000 after buying an additional 642,171 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CLDX. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Celldex Therapeutics in a research note on Friday, July 17th. HC Wainwright restated a "buy" rating and set a $42.00 target price on shares of Celldex Therapeutics in a report on Monday, June 15th. UBS Group raised their target price on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, June 10th. Wells Fargo & Company lifted their target price on shares of Celldex Therapeutics from $48.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley upped their price target on shares of Celldex Therapeutics from $40.00 to $46.00 and gave the company an "overweight" rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $56.08.

Celldex Therapeutics Stock Down 1.6%

NASDAQ CLDX opened at $40.57 on Thursday. Celldex Therapeutics, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $45.14. The business has a fifty day moving average of $38.22 and a 200-day moving average of $33.11. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -9.33 and a beta of 0.87.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.94) EPS for the quarter, beating analysts' consensus estimates of ($1.06) by $0.12. The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.73 million. As a group, analysts anticipate that Celldex Therapeutics, Inc. will post -4.13 EPS for the current year.

About Celldex Therapeutics

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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