Celldex Therapeutics (NASDAQ:CLDX) Trading Down 5.5% – What’s Next?

Celldex Therapeutics, Inc. (NASDAQ:CLDX) dropped 5.5% during trading on Friday . The stock traded as low as $24.99 and last traded at $24.99. Approximately 387,690 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 885,998 shares. The stock had previously closed at $26.45.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CLDX. Citigroup assumed coverage on Celldex Therapeutics in a report on Monday, October 7th. They issued a “buy” rating and a $70.00 price objective for the company. Wells Fargo & Company raised shares of Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 26th. Wolfe Research downgraded Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 27th. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Celldex Therapeutics in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group started coverage on Celldex Therapeutics in a research note on Monday, September 30th. They issued a “neutral” rating and a $45.00 price target for the company. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.25.

Celldex Therapeutics Stock Performance

The company has a 50-day simple moving average of $27.38 and a 200-day simple moving average of $33.73. The stock has a market cap of $1.65 billion, a P/E ratio of -10.29 and a beta of 1.57.

Insider Transactions at Celldex Therapeutics

In related news, CEO Anthony S. Marucci purchased 11,500 shares of Celldex Therapeutics stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $26.82 per share, for a total transaction of $308,430.00. Following the transaction, the chief executive officer now directly owns 40,284 shares of the company’s stock, valued at approximately $1,080,416.88. This trade represents a 39.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Celldex Therapeutics

Institutional investors have recently modified their holdings of the stock. KBC Group NV increased its stake in Celldex Therapeutics by 31.2% in the third quarter. KBC Group NV now owns 2,081 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 495 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Celldex Therapeutics during the second quarter worth about $76,000. Los Angeles Capital Management LLC grew its stake in Celldex Therapeutics by 9.5% in the second quarter. Los Angeles Capital Management LLC now owns 7,371 shares of the biopharmaceutical company’s stock valued at $273,000 after acquiring an additional 638 shares during the period. Quest Partners LLC increased its holdings in shares of Celldex Therapeutics by 1,364.9% in the second quarter. Quest Partners LLC now owns 7,383 shares of the biopharmaceutical company’s stock worth $273,000 after acquiring an additional 6,879 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Celldex Therapeutics by 23.7% during the second quarter. AQR Capital Management LLC now owns 7,857 shares of the biopharmaceutical company’s stock worth $291,000 after purchasing an additional 1,504 shares during the period.

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.