Celldex Therapeutics (NASDAQ:CLDX) Reaches New 12-Month High – Here’s Why

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $29.40 and last traded at $29.4580, with a volume of 176251 shares changing hands. The stock had previously closed at $27.81.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CLDX shares. Barclays decreased their target price on shares of Celldex Therapeutics from $25.00 to $21.00 and set an “underweight” rating for the company in a research note on Tuesday, November 11th. HC Wainwright reduced their price target on Celldex Therapeutics from $50.00 to $42.00 and set a “buy” rating for the company in a report on Wednesday, August 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Wednesday, October 8th. Citigroup decreased their price target on shares of Celldex Therapeutics from $56.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, August 20th. Finally, Mizuho assumed coverage on shares of Celldex Therapeutics in a report on Tuesday, October 21st. They issued an “outperform” rating and a $48.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.80.

Celldex Therapeutics Trading Up 5.2%

The stock’s 50-day moving average price is $25.96 and its 200-day moving average price is $23.45. The company has a market capitalization of $1.94 billion, a P/E ratio of -8.68 and a beta of 1.13.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Monday, November 10th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.13). Celldex Therapeutics had a negative return on equity of 33.22% and a negative net margin of 3,446.88%. Sell-side analysts expect that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal year.

Insider Transactions at Celldex Therapeutics

In other Celldex Therapeutics news, insider Richard M. Wright sold 49,298 shares of Celldex Therapeutics stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $24.00, for a total transaction of $1,183,152.00. Following the transaction, the insider owned 20,833 shares of the company’s stock, valued at $499,992. The trade was a 70.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Celldex Therapeutics

Several large investors have recently added to or reduced their stakes in CLDX. Handelsbanken Fonder AB grew its position in Celldex Therapeutics by 2.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 21,600 shares of the biopharmaceutical company’s stock worth $440,000 after purchasing an additional 500 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Celldex Therapeutics by 27.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 501 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Celldex Therapeutics by 1.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock worth $798,000 after acquiring an additional 680 shares during the period. AlphaQuest LLC increased its position in shares of Celldex Therapeutics by 7.0% during the second quarter. AlphaQuest LLC now owns 12,956 shares of the biopharmaceutical company’s stock valued at $264,000 after purchasing an additional 844 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Celldex Therapeutics by 171.7% in the second quarter. Nisa Investment Advisors LLC now owns 1,394 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 881 shares in the last quarter.

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.