Woodline Partners LP Trims Position in 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 decreased its position in Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) by 41.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,188,429 shares of the biopharmaceutical company's stock after selling 825,586 shares during the quarter. Woodline Partners LP owned 1.79% of Celldex Therapeutics worth $21,570,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. grew its holdings in Celldex Therapeutics by 50.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,515,972 shares of the biopharmaceutical company's stock worth $63,579,000 after acquiring an additional 847,264 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Celldex Therapeutics during the 1st quarter worth $7,789,000. Millennium Management LLC grew its stake in shares of Celldex Therapeutics by 327.3% during the first quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company's stock worth $7,259,000 after purchasing an additional 306,330 shares in the last quarter. Vestal Point Capital LP purchased a new position in Celldex Therapeutics in the fourth quarter valued at $7,707,000. Finally, TFG Asset Management GP Ltd acquired a new stake in Celldex Therapeutics in the fourth quarter valued at $4,852,000.

Celldex Therapeutics Price Performance

Shares of CLDX traded down $0.75 during midday trading on Friday, reaching $24.45. 1,298,132 shares of the stock were exchanged, compared to its average volume of 1,581,133. Celldex Therapeutics, Inc. has a twelve month low of $14.40 and a twelve month high of $47.00. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -8.12 and a beta of 1.19. The business's 50-day moving average price is $22.75 and its 200 day moving average price is $20.73.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.86) by $0.01. The firm had revenue of $0.73 million for 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%. As a group, equities research analysts expect that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on CLDX. Canaccord Genuity Group decreased their price target on Celldex Therapeutics from $64.00 to $62.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Wells Fargo & Company cut their target price on Celldex Therapeutics from $44.00 to $38.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Citigroup decreased 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 dropped 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 analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $46.67.

Celldex Therapeutics Company 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.