Celldex Therapeutics (NASDAQ:CLDX) Shares Gap Up - What's Next?

Key Points

• Celldex shares gapped higher, opening at $41.62 versus a prior close of $38.24, before trading near $38.32. The company has a market capitalization of approximately $2.99 billion.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and a $56.42 price target. Recent targets range from $42 to $100, though some firms maintain sell ratings.
• Celldex reported a quarterly loss of $0.94 per share, beating estimates of $1.06, but revenue of $0.02 million fell well short of the $0.73 million consensus. Its lead drug candidate, barzolvolimab, is being studied for immune-mediated diseases including chronic spontaneous urticaria and prurigo nodularis.

Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $38.24, but opened at $41.62. Celldex Therapeutics shares last traded at $38.3170, with a volume of 28,369 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on CLDX shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Celldex Therapeutics in a report on Friday, July 17th. Guggenheim lifted their price target on shares of Celldex Therapeutics from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Canaccord Genuity Group dropped their price target on shares of Celldex Therapeutics from $62.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Wall Street Zen upgraded shares of Celldex Therapeutics from a "strong sell" rating to a "sell" rating in a report on Sunday, July 12th. Finally, HC Wainwright restated a "buy" rating and issued a $42.00 price objective on shares of Celldex Therapeutics in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.42.

Celldex Therapeutics Trading Down 0.6%

The business has a 50 day moving average of $39.13 and a 200-day moving average of $34.75. The firm has a market capitalization of $2.99 billion, a P/E ratio of -8.73 and a beta of 0.84.

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 the consensus estimate of ($1.06) by $0.12. The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.73 million. On average, analysts anticipate that Celldex Therapeutics, Inc. will post -4.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nykredit A S bought a new position in shares of Celldex Therapeutics during the second quarter worth approximately $67,000. Diversified Trust Co acquired a new stake in Celldex Therapeutics during the 1st quarter worth approximately $223,000. Walleye Capital LLC bought a new stake in Celldex Therapeutics in the 1st quarter valued at $258,000. Amundi bought a new stake in Celldex Therapeutics in the 1st quarter valued at $297,000. Finally, ProShare Advisors LLC grew its holdings in Celldex Therapeutics by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 11,973 shares of the biopharmaceutical company's stock valued at $325,000 after buying an additional 773 shares in the last quarter.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based therapeutics for diseases with significant unmet medical needs. The company's research programs address conditions in immunology, inflammation, oncology and other areas where targeted immune-system modulation may provide therapeutic benefits.

Celldex's lead investigational product is barzolvolimab, an antibody designed to block the KIT receptor and reduce mast cells. The therapy is being studied in immune-mediated diseases, including chronic spontaneous urticaria and prurigo nodularis.

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