Celldex Therapeutics (NASDAQ:CLDX) Shares Down 3.7% – Should You Sell?

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s share price dropped 3.7% during mid-day trading on Tuesday . The stock traded as low as $20.09 and last traded at $20.02. Approximately 32,205 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 867,794 shares. The stock had previously closed at $20.78.

Analyst Upgrades and Downgrades

Several research firms recently commented on CLDX. Morgan Stanley assumed coverage on shares of Celldex Therapeutics in a research note on Thursday, March 20th. They set an “overweight” rating and a $46.00 target price for the company. UBS Group initiated coverage on shares of Celldex Therapeutics in a research note on Thursday, February 13th. They issued a “buy” rating and a $44.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 price target on shares of Celldex Therapeutics in a research note on Wednesday, January 29th. HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Celldex Therapeutics in a report on Friday, February 28th. Finally, The Goldman Sachs Group cut their target price on Celldex Therapeutics from $42.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Celldex Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $54.33.

Celldex Therapeutics Stock Performance

The stock has a 50-day moving average of $22.15 and a 200 day moving average of $26.86. The firm has a market capitalization of $1.34 billion, a P/E ratio of -7.87 and a beta of 1.76.

Celldex Therapeutics (NASDAQ:CLDX) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.02. The company had revenue of $1.18 million during the quarter, compared to analyst estimates of $1.25 million. Celldex Therapeutics had a negative return on equity of 19.75% and a negative net margin of 1,544.32%. On average, equities analysts predict that Celldex Therapeutics, Inc. will post -2.48 EPS for the current year.

Hedge Funds Weigh In On Celldex Therapeutics

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in Celldex Therapeutics by 215.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,285 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 878 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Celldex Therapeutics in the 4th quarter valued at $81,000. KBC Group NV raised its position in shares of Celldex Therapeutics by 79.1% during the fourth quarter. KBC Group NV now owns 3,728 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 1,647 shares during the last quarter. AlphaQuest LLC raised its position in shares of Celldex Therapeutics by 171.0% during the fourth quarter. AlphaQuest LLC now owns 4,287 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 2,705 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new position in shares of Celldex Therapeutics during the fourth quarter valued at $121,000.

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.