Celldex Therapeutics, Inc. (NASDAQ:CLDX) Sees Significant Growth in Short Interest

Celldex Therapeutics, Inc. (NASDAQ:CLDX) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 8,090,000 shares, an increase of 10.7% from the December 15th total of 7,310,000 shares. Based on an average trading volume of 1,010,000 shares, the days-to-cover ratio is currently 8.0 days.

Wall Street Analysts Forecast Growth

CLDX has been the subject of a number of research analyst reports. Wells Fargo & Company raised shares of Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 26th. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 target price on shares of Celldex Therapeutics in a research note on Thursday, January 2nd. The Goldman Sachs Group initiated coverage on shares of Celldex Therapeutics in a research note on Monday, September 30th. They issued a “neutral” rating and a $45.00 price target on the stock. Wolfe Research downgraded Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Celldex Therapeutics in a research note on Thursday, December 19th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.25.

Celldex Therapeutics Price Performance

Shares of CLDX traded up $1.02 on Monday, reaching $23.78. 854,667 shares of the stock traded hands, compared to its average volume of 852,336. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -9.25 and a beta of 1.62. Celldex Therapeutics has a 12 month low of $22.17 and a 12 month high of $53.18. The stock’s 50-day moving average price is $25.80 and its 200-day moving average price is $31.84.

Insider Activity at Celldex Therapeutics

In other Celldex Therapeutics news, CEO Anthony S. Marucci acquired 11,500 shares of Celldex Therapeutics stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of $26.82 per share, with a total value of $308,430.00. Following the purchase, the chief executive officer now owns 40,284 shares in the company, valued at approximately $1,080,416.88. The trade was a 39.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Celldex Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. 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 acquiring an additional 495 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Celldex Therapeutics in the second quarter valued at $76,000. AQR Capital Management LLC grew its holdings in shares of Celldex Therapeutics by 23.7% in the 2nd 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 last quarter. HighVista Strategies LLC bought a new stake in Celldex Therapeutics during the 2nd quarter worth approximately $356,000. Finally, Handelsbanken Fonder AB grew its holdings in Celldex Therapeutics by 23.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 13,800 shares of the biopharmaceutical company’s stock worth $469,000 after acquiring an additional 2,600 shares during the last quarter.

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.