Celldex Therapeutics (NASDAQ:CLDX) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Celldex Therapeutics (NASDAQ:CLDX) from a strong sell rating to a sell rating in a report published on Saturday.

A number of other brokerages also recently commented on CLDX. Wolfe Research upgraded Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research report on Monday, March 23rd. The Goldman Sachs Group lifted their target price on Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Barclays upped their target price on Celldex Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 price target (up from $58.00) on shares of Celldex Therapeutics in a research report on Thursday, February 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Celldex Therapeutics Price Performance

Shares of CLDX opened at $33.97 on Friday. The firm’s 50 day moving average is $31.69 and its 200-day moving average is $27.87. Celldex Therapeutics has a 12-month low of $18.20 and a 12-month high of $35.79. The stock has a market capitalization of $2.67 billion, a P/E ratio of -7.97 and a beta of 0.98.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.03). The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.80 million. As a group, equities research analysts forecast that Celldex Therapeutics will post -4.87 EPS for the current fiscal year.

Institutional Trading of Celldex Therapeutics

Hedge funds have recently modified their holdings of the business. Aster Capital Management DIFC Ltd purchased a new position in shares of Celldex Therapeutics during the third quarter valued at $26,000. Wilmington Savings Fund Society FSB purchased a new stake in Celldex Therapeutics in the 3rd quarter worth about $42,000. Russell Investments Group Ltd. boosted its position in Celldex Therapeutics by 27.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 501 shares during the period. Quantbot Technologies LP acquired a new stake in Celldex Therapeutics in the 3rd quarter worth approximately $63,000. Finally, Strs Ohio bought a new stake in Celldex Therapeutics during the third quarter worth approximately $75,000.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted immunotherapies for cancer and other serious diseases. The company’s research platforms leverage novel antibody and vaccine technologies designed to engage the patient’s immune system, with a particular emphasis on oncology and neurologic indications. Celldex’s pipeline includes both monoclonal antibodies and biologic agents that seek to modulate immune responses or deliver targeted cytotoxic activity.

Among Celldex’s lead product candidates is glembatumumab vedotin, an antibody–drug conjugate directed against the glycoprotein NMB (gpNMB) for the treatment of certain breast and skin cancers.