Celldex Therapeutics (NASDAQ:CLDX) Stock Price Up 4.2% Following Insider Buying Activity

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price traded up 4.2% during mid-day trading on Tuesday following insider buying activity. The company traded as high as $27.89 and last traded at $27.30. 107,913 shares were traded during trading, a decline of 88% from the average session volume of 869,580 shares. The stock had previously closed at $26.21.

Specifically, CEO Anthony S. Marucci bought 11,500 shares of the stock in a transaction on Monday, November 11th. The shares were purchased at an average cost of $26.82 per share, with a total value of $308,430.00. Following the completion of the transaction, the chief executive officer now directly owns 40,284 shares of the company’s stock, valued at $1,080,416.88. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Celldex Therapeutics in a report on Thursday, November 7th. The Goldman Sachs Group initiated coverage on shares of Celldex Therapeutics in a report on Monday, September 30th. They set a “neutral” rating and a $45.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 price target on shares of Celldex Therapeutics in a research report on Monday, September 16th. Wells Fargo & Company upgraded shares of Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Citigroup initiated coverage on shares of Celldex Therapeutics in a research report on Monday, October 7th. They set a “buy” rating and a $70.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Celldex Therapeutics has an average rating of “Moderate Buy” and an average target price of $62.25.

Celldex Therapeutics Price Performance

The business’s 50 day simple moving average is $33.29 and its 200 day simple moving average is $35.72. The stock has a market cap of $1.79 billion, a P/E ratio of -10.65 and a beta of 1.60.

Institutional Investors Weigh In On Celldex Therapeutics

Several large investors have recently added to or reduced their stakes in CLDX. Charles Schwab Investment Management Inc. grew its stake in shares of Celldex Therapeutics by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 538,856 shares of the biopharmaceutical company’s stock worth $18,316,000 after acquiring an additional 8,413 shares during the last quarter. Intech Investment Management LLC purchased a new position in Celldex Therapeutics in the third quarter valued at approximately $871,000. Jennison Associates LLC boosted its stake in shares of Celldex Therapeutics by 32.0% during the 3rd quarter. Jennison Associates LLC now owns 1,324,410 shares of the biopharmaceutical company’s stock valued at $45,017,000 after buying an additional 321,325 shares during the last quarter. KBC Group NV grew its stake in Celldex Therapeutics by 31.2% during the 3rd quarter. KBC Group NV now owns 2,081 shares of the biopharmaceutical company’s stock worth $71,000 after buying an additional 495 shares during the last quarter. Finally, GSA Capital Partners LLP increased its stake in shares of Celldex Therapeutics by 191.2% during the third quarter. GSA Capital Partners LLP now owns 16,114 shares of the biopharmaceutical company’s stock valued at $548,000 after acquiring an additional 10,581 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.