Celldex Therapeutics (NASDAQ:CLDX) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.20 and traded as high as $35.39. Celldex Therapeutics shares last traded at $34.09, with a volume of 1,143,622 shares changing hands.

Analyst Ratings Changes

Several equities analysts have commented on CLDX shares. Wall Street Zen upgraded Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. The Goldman Sachs Group upped their price objective on shares of Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Monday, April 20th. HC Wainwright reiterated a “buy” rating and issued a $42.00 target price on shares of Celldex Therapeutics in a report on Monday, June 15th. 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 report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Celldex Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.30.

Celldex Therapeutics Stock Performance

The company has a market capitalization of $2.77 billion, a P/E ratio of -8.28 and a beta of 0.95. The company has a 50-day simple moving average of $32.06 and a 200 day simple moving average of $29.24.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($1.15) by ($0.03). The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.80 million. As a group, sell-side analysts forecast that Celldex Therapeutics, Inc. will post -4.36 earnings per share for the current year.

Hedge Funds Weigh In On Celldex Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Celldex Therapeutics by 39.3% in the 4th quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company’s stock valued at $219,442,000 after buying an additional 2,279,605 shares in the last quarter. Vestal Point Capital LP lifted its holdings in shares of Celldex Therapeutics by 781.0% during the 2nd quarter. Vestal Point Capital LP now owns 1,750,000 shares of the biopharmaceutical company’s stock worth $35,612,000 after acquiring an additional 1,551,354 shares during the period. Braidwell LP boosted its position in shares of Celldex Therapeutics by 214.0% during the 4th quarter. Braidwell LP now owns 1,858,109 shares of the biopharmaceutical company’s stock valued at $50,466,000 after acquiring an additional 1,266,420 shares in the last quarter. Elmind Capital LP acquired a new stake in shares of Celldex Therapeutics during the 4th quarter valued at about $23,493,000. Finally, State Street Corp increased its stake in Celldex Therapeutics by 19.5% in the fourth quarter. State Street Corp now owns 3,397,713 shares of the biopharmaceutical company’s stock valued at $92,282,000 after acquiring an additional 555,579 shares during the period.

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.