Celldex Therapeutics (NASDAQ:CLDX) Reaches New 12-Month High – What’s Next?

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $39.70 and last traded at $39.5490, with a volume of 469221 shares trading hands. The stock had previously closed at $37.95.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CLDX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Monday, April 20th. UBS Group raised their price objective on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Wells Fargo & Company lifted their price objective on shares of Celldex Therapeutics from $38.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Barclays boosted their target price on shares of Celldex Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Wolfe Research raised shares of Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.30.

Celldex Therapeutics Stock Down 0.9%

The firm’s 50-day moving average price is $32.72 and its two-hundred day moving average price is $29.86. The firm has a market capitalization of $3.03 billion, a PE ratio of -9.07 and a beta of 0.90.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly 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 $0.01 million for the quarter, compared to analyst estimates of $0.80 million. Equities research analysts forecast that Celldex Therapeutics, Inc. will post -4.36 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Eventide Asset Management LLC boosted its position in Celldex Therapeutics by 37.1% during the 3rd quarter. Eventide Asset Management LLC now owns 1,859,095 shares of the biopharmaceutical company’s stock worth $48,096,000 after acquiring an additional 502,909 shares during the period. Braidwell LP acquired a new position in shares of Celldex Therapeutics in the 3rd quarter valued at about $15,307,000. SG Americas Securities LLC lifted its position in shares of Celldex Therapeutics by 143.2% in the fourth quarter. SG Americas Securities LLC now owns 47,340 shares of the biopharmaceutical company’s stock worth $1,286,000 after purchasing an additional 27,872 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Celldex Therapeutics during the third quarter worth approximately $818,000. Finally, HighVista Strategies LLC boosted its holdings in shares of Celldex Therapeutics by 26.9% during the third quarter. HighVista Strategies LLC now owns 135,258 shares of the biopharmaceutical company’s stock worth $3,499,000 after purchasing an additional 28,705 shares during the period.

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.