Point72 Asset Management L.P. Increases Position in Celldex Therapeutics, Inc. (NASDAQ:CLDX)

Point72 Asset Management L.P. increased its stake in shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) by 50.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,515,972 shares of the biopharmaceutical company’s stock after purchasing an additional 847,264 shares during the quarter. Point72 Asset Management L.P.’s holdings in Celldex Therapeutics were worth $63,579,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Celldex Therapeutics by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 3,881,995 shares of the biopharmaceutical company’s stock worth $98,098,000 after purchasing an additional 12,213 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Celldex Therapeutics by 23.5% during 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 acquiring an additional 676,771 shares during the last quarter. Deep Track Capital LP purchased a new stake in Celldex Therapeutics during the fourth quarter valued at approximately $38,919,000. Rock Springs Capital Management LP boosted its stake in Celldex Therapeutics by 10.7% in the fourth quarter. Rock Springs Capital Management LP now owns 1,222,182 shares of the biopharmaceutical company’s stock valued at $30,885,000 after acquiring an additional 118,404 shares in the last quarter. Finally, Novo Holdings A S grew its holdings in Celldex Therapeutics by 3.8% in the fourth quarter. Novo Holdings A S now owns 1,000,000 shares of the biopharmaceutical company’s stock worth $25,270,000 after purchasing an additional 36,337 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CLDX. Morgan Stanley decreased their price objective on Celldex Therapeutics from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, May 9th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Celldex Therapeutics in a research report on Tuesday, May 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $67.00 target price on shares of Celldex Therapeutics in a research report on Wednesday, January 29th. UBS Group reduced 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, Canaccord Genuity Group assumed coverage on Celldex Therapeutics in a research report on Monday, April 28th. They set a “buy” rating and a $64.00 target price on the stock. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Celldex Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $53.90.

Celldex Therapeutics Stock Performance

Shares of CLDX stock opened at $20.10 on Friday. The stock’s 50-day simple moving average is $18.91 and its 200-day simple moving average is $22.65. The firm has a market capitalization of $1.33 billion, a PE ratio of -7.82 and a beta of 1.39. Celldex Therapeutics, Inc. has a fifty-two week low of $14.40 and a fifty-two week high of $47.00.

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

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.