Celldex Therapeutics (NASDAQ:CLDX) Shares Down 6.5% – Time to Sell?

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s share price dropped 6.5% during mid-day trading on Tuesday . The stock traded as low as $17.24 and last traded at $16.97. Approximately 47,895 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 862,677 shares. The stock had previously closed at $18.15.

Analyst Ratings Changes

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

Celldex Therapeutics Stock Performance

The stock has a fifty day simple moving average of $21.78 and a 200 day simple moving average of $26.06. The firm has a market cap of $1.15 billion, a P/E ratio of -6.75 and a beta of 1.76.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Values First Advisors Inc. grew its position in Celldex Therapeutics by 20.0% in the 4th quarter. Values First Advisors Inc. now owns 29,009 shares of the biopharmaceutical company’s stock worth $733,000 after purchasing an additional 4,837 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Celldex Therapeutics by 293.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 28,181 shares of the biopharmaceutical company’s stock worth $958,000 after buying an additional 21,013 shares during the last quarter. Barclays PLC grew its holdings in shares of Celldex Therapeutics by 140.7% in the third quarter. Barclays PLC now owns 130,381 shares of the biopharmaceutical company’s stock worth $4,431,000 after acquiring an additional 76,207 shares during the period. XTX Topco Ltd purchased a new stake in Celldex Therapeutics during the third quarter valued at $1,561,000. Finally, SG Americas Securities LLC lifted its holdings in Celldex Therapeutics by 24.4% in the fourth quarter. SG Americas Securities LLC now owns 25,283 shares of the biopharmaceutical company’s stock valued at $639,000 after acquiring an additional 4,967 shares during the period.

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.