Wellington Management Group LLP Sells 621,682 Shares of Celldex Therapeutics, Inc. $CLDX

Key Points

• Wellington Management Group LLP holds a reduced stake of $151.63 million in Celldex Therapeutics after trimming its position by 6.9%, now owning approximately 12.58% of the company.
• Several hedge funds, including GAMMA Investing LLC, have significantly increased their holdings in Celldex Therapeutics, with GAMMA's position rising by 6,665.9% during the first quarter.
• Analyst price targets for Celldex Therapeutics have been decreased by multiple firms, with consensus ratings currently indicating a "Moderate Buy" and an average price target of $46.67.

Wellington Management Group LLP cut its holdings in shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 6.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,354,151 shares of the biopharmaceutical company's stock after selling 621,682 shares during the period. Wellington Management Group LLP owned 12.58% of Celldex Therapeutics worth $151,628,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Celldex Therapeutics by 6,665.9% during the first quarter. GAMMA Investing LLC now owns 2,977 shares of the biopharmaceutical company's stock valued at $54,000 after buying an additional 2,933 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of Celldex Therapeutics during the fourth quarter valued at approximately $121,000. Hsbc Holdings PLC purchased a new position in shares of Celldex Therapeutics during the fourth quarter valued at approximately $233,000. Ameriprise Financial Inc. purchased a new position in shares of Celldex Therapeutics during the fourth quarter valued at approximately $251,000. Finally, Nebula Research & Development LLC purchased a new position in shares of Celldex Therapeutics during the fourth quarter valued at approximately $354,000.

Celldex Therapeutics Trading Up 2.0%

Celldex Therapeutics stock traded up $0.44 during mid-day trading on Friday, hitting $22.46. The company had a trading volume of 1,797,765 shares, compared to its average volume of 1,313,527. The stock's 50 day moving average price is $22.12 and its two-hundred day moving average price is $20.64. Celldex Therapeutics, Inc. has a 12 month low of $14.40 and a 12 month high of $47.00. The company has a market capitalization of $1.49 billion, a PE ratio of -7.46 and a beta of 1.22.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.85) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.01. Celldex Therapeutics had a negative return on equity of 27.61% and a negative net margin of 3,446.88%.The business had revenue of $0.73 million for the quarter, compared to the consensus estimate of $1.13 million. Equities research analysts anticipate that Celldex Therapeutics, Inc. will post -2.48 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on CLDX. Canaccord Genuity Group dropped their price target on Celldex Therapeutics from $64.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday. Citigroup dropped their price target on Celldex Therapeutics from $56.00 to $48.00 and set a "buy" rating on the stock in a research report on Wednesday. UBS Group dropped their price target on Celldex Therapeutics from $44.00 to $38.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Morgan Stanley dropped their price target on Celldex Therapeutics from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Finally, The Goldman Sachs Group dropped their price target on Celldex Therapeutics from $36.00 to $31.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Celldex Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target 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.