Woodline Partners LP Sells 825,586 Shares of Celldex Therapeutics, Inc. $CLDX

Key Points

• Woodline Partners LP has reduced its stake in Celldex Therapeutics by 41.0%, selling 825,586 shares and retaining approximately 1.79% of the company worth $21.57 million.
• Analysts have mixed views on the stock, with target price reductions from firms like Wells Fargo and Citigroup, forecasting a current average target price of $46.67.
• Celldex Therapeutics reported an EPS of ($0.85) for the last quarter, slightly surpassing estimates, but had revenues of $0.73 million, falling short of the $1.13 million expectation.

Woodline Partners LP lessened its holdings in Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 41.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,188,429 shares of the biopharmaceutical company's stock after selling 825,586 shares during the quarter. Woodline Partners LP owned approximately 1.79% of Celldex Therapeutics worth $21,570,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CLDX. GAMMA Investing LLC boosted its stake in Celldex Therapeutics by 6,665.9% during the 1st quarter. GAMMA Investing LLC now owns 2,977 shares of the biopharmaceutical company's stock worth $54,000 after acquiring an additional 2,933 shares during the last quarter. AlphaQuest LLC boosted its stake in Celldex Therapeutics by 182.5% during the 1st quarter. AlphaQuest LLC now owns 12,112 shares of the biopharmaceutical company's stock worth $220,000 after acquiring an additional 7,825 shares during the last quarter. Ameriprise Financial Inc. bought a new position in Celldex Therapeutics during the 4th quarter worth approximately $251,000. ADAR1 Capital Management LLC bought a new position in Celldex Therapeutics during the 1st quarter worth approximately $265,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Celldex Therapeutics during the 1st quarter worth approximately $269,000.

Celldex Therapeutics Stock Performance

CLDX traded up $0.09 during trading on Tuesday, reaching $24.59. 350,929 shares of the stock were exchanged, compared to its average volume of 1,024,054. The stock has a market cap of $1.63 billion, a P/E ratio of -8.16 and a beta of 1.19. Celldex Therapeutics, Inc. has a twelve month low of $14.40 and a twelve month high of $47.00. The stock's 50 day moving average price is $22.82 and its two-hundred day moving average price is $20.76.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on CLDX. Citigroup reduced their price objective on shares of Celldex Therapeutics from $56.00 to $48.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Wells Fargo & Company reduced their price objective on shares of Celldex Therapeutics from $44.00 to $38.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th. Canaccord Genuity Group cut their price target on shares of Celldex Therapeutics from $64.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Finally, HC Wainwright cut their price target on shares of Celldex Therapeutics from $50.00 to $42.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average 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.