Celldex Therapeutics (NASDAQ:CLDX) Hits New 52-Week Low – Time to Sell?

Celldex Therapeutics, Inc. (NASDAQ:CLDX) hit a new 52-week low during trading on Monday . The company traded as low as $17.86 and last traded at $18.23, with a volume of 112863 shares. The stock had previously closed at $19.93.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CLDX shares. The Goldman Sachs Group reduced their price objective on shares of Celldex Therapeutics from $42.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Celldex Therapeutics in a research note on Friday, February 28th. UBS Group began coverage on Celldex Therapeutics in a research report on Thursday, February 13th. They issued a “buy” rating and a $44.00 price objective for the company. Morgan Stanley started coverage on Celldex Therapeutics in a research report on Thursday, March 20th. They set an “overweight” rating and a $46.00 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 price target on shares of Celldex Therapeutics in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Celldex Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $54.33.

Celldex Therapeutics Trading Down 7.2 %

The stock’s 50-day moving average is $21.63 and its 200-day moving average is $25.87. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -6.56 and a beta of 1.76.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.02. The company had revenue of $1.18 million during the quarter, compared to analyst estimates of $1.25 million. Celldex Therapeutics had a negative net margin of 1,544.32% and a negative return on equity of 19.75%. On average, equities analysts predict that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Celldex Therapeutics by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 538,856 shares of the biopharmaceutical company’s stock valued at $18,316,000 after buying an additional 8,413 shares in the last quarter. BNP Paribas Financial Markets grew its position in Celldex Therapeutics by 293.2% in the third quarter. BNP Paribas Financial Markets now owns 28,181 shares of the biopharmaceutical company’s stock valued at $958,000 after acquiring an additional 21,013 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Celldex Therapeutics by 6.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 102,595 shares of the biopharmaceutical company’s stock valued at $3,487,000 after purchasing an additional 6,269 shares during the period. Point72 DIFC Ltd lifted its position in shares of Celldex Therapeutics by 101.7% during the third quarter. Point72 DIFC Ltd now owns 14,114 shares of the biopharmaceutical company’s stock worth $480,000 after purchasing an additional 7,116 shares in the last quarter. Finally, Readystate Asset Management LP purchased a new position in shares of Celldex Therapeutics in the third quarter valued at $6,102,000.

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.