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

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $40.30 and last traded at $40.27, with a volume of 220780 shares trading hands. The stock had previously closed at $39.05.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CLDX shares. Cantor Fitzgerald lowered their price target on shares of Celldex Therapeutics from $67.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $42.00 target price on shares of Celldex Therapeutics in a research note on Monday, June 15th. Morgan Stanley cut their price target on Celldex Therapeutics from $44.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Finally, Wall Street Zen raised Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Celldex Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.62.

Celldex Therapeutics Trading Up 2.9%

The company has a market cap of $3.16 billion, a price-to-earnings ratio of -9.44 and a beta of 0.87. The stock’s 50 day moving average price is $34.60 and its 200 day moving average price is $31.24.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share (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. On average, equities analysts expect that Celldex Therapeutics, Inc. will post -4.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its position in Celldex Therapeutics by 143.2% during the fourth quarter. SG Americas Securities LLC now owns 47,340 shares of the biopharmaceutical company’s stock valued at $1,286,000 after acquiring an additional 27,872 shares during the period. Tudor Investment Corp ET AL purchased a new position in shares of Celldex Therapeutics in the 3rd quarter worth about $818,000. Seven Fleet Capital Management LP purchased a new position in shares of Celldex Therapeutics in the 1st quarter worth about $929,000. PSP Research LLC acquired a new position in shares of Celldex Therapeutics in the 4th quarter valued at about $553,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Celldex Therapeutics in the 1st quarter valued at about $1,433,000.

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.