Polar Asset Management Partners Inc. Grows Stock Position in Celldex Therapeutics, Inc. (NASDAQ:CLDX)

Polar Asset Management Partners Inc. lifted its stake in Celldex Therapeutics, Inc. (NASDAQ:CLDX) by 1,318.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,550 shares of the biopharmaceutical company’s stock after purchasing an additional 127,850 shares during the period. Polar Asset Management Partners Inc.’s holdings in Celldex Therapeutics were worth $3,476,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CLDX. Deep Track Capital LP acquired a new stake in Celldex Therapeutics in the fourth quarter valued at $38,919,000. Price T Rowe Associates Inc. MD raised its stake in Celldex Therapeutics by 23.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,557,136 shares of the biopharmaceutical company’s stock valued at $89,890,000 after buying an additional 676,771 shares in the last quarter. American Century Companies Inc. raised its stake in Celldex Therapeutics by 46.5% in the fourth quarter. American Century Companies Inc. now owns 608,457 shares of the biopharmaceutical company’s stock valued at $15,376,000 after buying an additional 193,093 shares in the last quarter. Crestline Management LP raised its stake in Celldex Therapeutics by 114.0% in the fourth quarter. Crestline Management LP now owns 295,354 shares of the biopharmaceutical company’s stock valued at $7,464,000 after buying an additional 157,366 shares in the last quarter. Finally, Eversept Partners LP raised its stake in Celldex Therapeutics by 27.4% in the fourth quarter. Eversept Partners LP now owns 719,836 shares of the biopharmaceutical company’s stock valued at $18,190,000 after buying an additional 154,934 shares in the last quarter.

Wall Street Analyst Weigh In

CLDX has been the topic of a number of analyst reports. Morgan Stanley cut their price target on Celldex Therapeutics from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 price target on shares of Celldex Therapeutics in a research note on Wednesday, January 29th. HC Wainwright restated a “buy” rating and issued a $80.00 price target on shares of Celldex Therapeutics in a research note on Tuesday, May 6th. UBS Group cut their target price on Celldex Therapeutics from $44.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Finally, The Goldman Sachs Group cut their target price on Celldex Therapeutics from $36.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Celldex Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $53.90.

Celldex Therapeutics Stock Performance

CLDX opened at $20.10 on Friday. The business’s 50-day simple moving average is $18.91 and its 200-day simple moving average is $22.65. Celldex Therapeutics, Inc. has a one year low of $14.40 and a one year high of $47.00. The stock has a market capitalization of $1.33 billion, a P/E ratio of -7.82 and a beta of 1.39.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.06). The company had revenue of $0.70 million during the quarter, compared to analyst estimates of $1.08 million. Celldex Therapeutics had a negative net margin of 1,544.32% and a negative return on equity of 19.75%. On average, equities research analysts forecast that Celldex Therapeutics, Inc. will post -2.48 EPS for the current fiscal year.

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.