Celldex Therapeutics (NASDAQ:CLDX) Trading 4.9% Higher – Here’s What Happened

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price was up 4.9% during trading on Tuesday . The company traded as high as $24.59 and last traded at $24.46. Approximately 187,152 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 872,933 shares. The stock had previously closed at $23.31.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. The Goldman Sachs Group started coverage on Celldex Therapeutics in a report on Monday, September 30th. They issued a “neutral” rating and a $45.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 price objective on shares of Celldex Therapeutics in a research report on Monday, September 16th. Wolfe Research downgraded shares of Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 27th. Wells Fargo & Company raised Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 26th. Finally, Citigroup began coverage on shares of Celldex Therapeutics in a report on Monday, October 7th. They set a “buy” rating and a $70.00 price objective for the company. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.25.

Celldex Therapeutics Stock Performance

The stock has a 50 day moving average of $31.17 and a 200 day moving average of $35.15.

Insider Activity

In other Celldex Therapeutics news, CEO Anthony S. Marucci bought 11,500 shares of the business’s stock in a transaction on Monday, November 11th. The shares were purchased at an average price of $26.82 per share, with a total value of $308,430.00. Following the purchase, the chief executive officer now directly owns 40,284 shares of the company’s stock, valued at approximately $1,080,416.88. The trade was a 39.95 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Celldex Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of CLDX. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Celldex Therapeutics in the second quarter valued at $76,000. KBC Group NV lifted its position in Celldex Therapeutics by 31.2% in 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 in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Celldex Therapeutics by 26.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock valued at $192,000 after purchasing an additional 955 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in Celldex Therapeutics by 34.3% in the first quarter. Ameritas Investment Partners Inc. now owns 6,198 shares of the biopharmaceutical company’s stock worth $260,000 after buying an additional 1,582 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Celldex Therapeutics by 9.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 7,371 shares of the biopharmaceutical company’s stock valued at $273,000 after purchasing an additional 638 shares in the last quarter.

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.