Celldex Therapeutics (NASDAQ:CLDX) Shares Gap Down After Analyst Downgrade

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) gapped down prior to trading on Wednesday after Cantor Fitzgerald lowered their price target on the stock from $67.00 to $61.00. The stock had previously closed at $35.66, but opened at $33.83. Cantor Fitzgerald currently has an overweight rating on the stock. Celldex Therapeutics shares last traded at $33.5370, with a volume of 488,828 shares.

A number of other research analysts have also weighed in on CLDX. Canaccord Genuity Group dropped their price objective on shares of Celldex Therapeutics from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday. HC Wainwright reissued a “buy” rating and issued a $42.00 price objective on shares of Celldex Therapeutics in a research report on Monday, June 15th. Barclays increased their target price on shares of Celldex Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Guggenheim lifted their price objective on Celldex Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wall Street Zen raised shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Handelsbanken Fonder AB increased its holdings in shares of Celldex Therapeutics by 5.0% in the second quarter. Handelsbanken Fonder AB now owns 27,200 shares of the biopharmaceutical company’s stock worth $1,012,000 after buying an additional 1,300 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Celldex Therapeutics by 438.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 788,696 shares of the biopharmaceutical company’s stock worth $29,347,000 after buying an additional 642,171 shares during the period. Apella Capital LLC grew its position in shares of Celldex Therapeutics by 56.6% in the 2nd quarter. Apella Capital LLC now owns 26,658 shares of the biopharmaceutical company’s stock worth $1,064,000 after buying an additional 9,634 shares during the last quarter. Mirador Capital Partners LP increased its stake in shares of Celldex Therapeutics by 1.7% during the second quarter. Mirador Capital Partners LP now owns 181,054 shares of the biopharmaceutical company’s stock valued at $6,737,000 after buying an additional 3,001 shares during the period. Finally, Seven Fleet Capital Management LP purchased a new position in shares of Celldex Therapeutics during the first quarter valued at approximately $929,000.

Celldex Therapeutics Stock Down 4.5%

The business has a fifty day moving average of $33.46 and a 200 day moving average of $30.53. The company has a market cap of $2.67 billion, a P/E ratio of -7.92 and a beta of 0.90.

Celldex Therapeutics (NASDAQ:CLDX) last posted 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 firm had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.80 million. On average, sell-side analysts anticipate that Celldex Therapeutics, Inc. will post -4.36 EPS for the current fiscal year.

Celldex Therapeutics Company Profile

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.