Celldex Therapeutics Target of Unusually High Options Trading (NASDAQ:CLDX)

Celldex Therapeutics, Inc. (NASDAQ:CLDX) saw unusually large options trading activity on Wednesday. Stock investors bought 6,226 call options on the company. This represents an increase of approximately 2,865% compared to the typical daily volume of 210 call options.

Celldex Therapeutics Price Performance

CLDX stock traded up $0.71 during trading hours on Wednesday, reaching $38.88. The stock had a trading volume of 292,666 shares, compared to its average volume of 772,464. Celldex Therapeutics has a fifty-two week low of $22.11 and a fifty-two week high of $53.18. The stock has a 50-day simple moving average of $36.66 and a 200 day simple moving average of $38.72. The stock has a market capitalization of $2.56 billion, a PE ratio of -13.39 and a beta of 1.58.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.05. Celldex Therapeutics had a negative net margin of 1,809.18% and a negative return on equity of 23.66%. The business had revenue of $2.50 million for the quarter, compared to analyst estimates of $1.13 million. On average, sell-side analysts forecast that Celldex Therapeutics will post -2.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CLDX. Stifel Nicolaus started coverage on Celldex Therapeutics in a research report on Tuesday, June 18th. They set a “buy” rating and a $58.00 price objective for the company. Wells Fargo & Company raised their price objective on Celldex Therapeutics from $35.00 to $37.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Wolfe Research assumed coverage on Celldex Therapeutics in a report on Tuesday, June 11th. They set an “outperform” rating and a $51.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Celldex Therapeutics in a report on Monday, August 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 price target on shares of Celldex Therapeutics in a research report on Tuesday, July 30th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.83.

Insider Buying and Selling

In related news, VP Elizabeth Crowley sold 38,597 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $33.64, for a total transaction of $1,298,403.08. Following the transaction, the vice president now owns 9,074 shares in the company, valued at $305,249.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Elizabeth Crowley sold 38,597 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $33.64, for a total value of $1,298,403.08. Following the completion of the sale, the vice president now owns 9,074 shares in the company, valued at approximately $305,249.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Samuel Bates Martin sold 17,172 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $35.42, for a total transaction of $608,232.24. Following the transaction, the chief financial officer now directly owns 28,125 shares in the company, valued at approximately $996,187.50. The disclosure for this sale can be found here. Insiders have sold a total of 266,332 shares of company stock worth $9,155,821 in the last 90 days. 3.80% of the stock is owned by company insiders.

Institutional Trading of Celldex Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CLDX. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Celldex Therapeutics during the 2nd quarter valued at $76,000. Strs Ohio grew its position in Celldex Therapeutics by 92.9% during the fourth quarter. Strs Ohio now owns 2,700 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 1,300 shares during the period. Headlands Technologies LLC bought a new stake in Celldex Therapeutics during the first quarter valued at approximately $147,000. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Celldex Therapeutics by 26.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock worth $192,000 after buying an additional 955 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in Celldex Therapeutics by 34.3% during the first quarter. Ameritas Investment Partners Inc. now owns 6,198 shares of the biopharmaceutical company’s stock valued at $260,000 after purchasing an additional 1,582 shares in 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.