Analysts Set Celldex Therapeutics, Inc. (NASDAQ:CLDX) PT at $62.25

Celldex Therapeutics, Inc. (NASDAQ:CLDX) has earned an average rating of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $62.25.

Several research analysts have recently weighed in on CLDX shares. Citigroup initiated coverage on shares of Celldex Therapeutics in a report on Monday, October 7th. They set a “buy” rating and a $70.00 price objective for the company. Wolfe Research cut Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Friday, September 27th. The Goldman Sachs Group started coverage on Celldex Therapeutics in a research note on Monday, September 30th. They issued a “neutral” rating and a $45.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a research report on Monday, September 16th. Finally, Wells Fargo & Company raised Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 26th.

Celldex Therapeutics Stock Performance

NASDAQ CLDX opened at $25.74 on Friday. Celldex Therapeutics has a one year low of $24.43 and a one year high of $53.18. The stock has a 50-day moving average of $32.65 and a 200 day moving average of $35.60. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -10.44 and a beta of 1.60.

Insider Activity at Celldex Therapeutics

In other Celldex Therapeutics news, CEO Anthony S. Marucci purchased 11,500 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average cost of $26.82 per share, with a total value of $308,430.00. Following the acquisition, the chief executive officer now owns 40,284 shares in the company, valued at approximately $1,080,416.88. This trade represents a 39.95 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Celldex Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CLDX. Vanguard Group Inc. boosted its holdings in shares of Celldex Therapeutics by 19.8% during the 1st quarter. Vanguard Group Inc. now owns 3,650,582 shares of the biopharmaceutical company’s stock valued at $153,215,000 after purchasing an additional 604,251 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Celldex Therapeutics by 631.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,087,208 shares of the biopharmaceutical company’s stock valued at $129,571,000 after buying an additional 2,664,915 shares during the last quarter. Bellevue Group AG grew its holdings in Celldex Therapeutics by 3.4% during the 3rd quarter. Bellevue Group AG now owns 3,071,615 shares of the biopharmaceutical company’s stock valued at $104,404,000 after buying an additional 100,000 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Celldex Therapeutics by 51.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,937,991 shares of the biopharmaceutical company’s stock worth $71,725,000 after acquiring an additional 654,194 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Celldex Therapeutics by 53.3% during the 2nd quarter. Marshall Wace LLP now owns 1,377,868 shares of the biopharmaceutical company’s stock worth $50,995,000 after acquiring an additional 479,068 shares in the last quarter.

About Celldex Therapeutics

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.