Celldex Therapeutics (NASDAQ:CLDX) Stock Price Down 5.1% – What’s Next?

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s share price traded down 5.1% during mid-day trading on Tuesday . The stock traded as low as $26.53 and last traded at $26.70. 195,982 shares were traded during trading, a decline of 78% from the average session volume of 873,433 shares. The stock had previously closed at $28.14.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a research report on Monday, September 16th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Celldex Therapeutics in a research note on Wednesday, November 20th. Wells Fargo & Company raised shares of Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 26th. Citigroup assumed coverage on shares of Celldex Therapeutics in a research note on Monday, October 7th. They set a “buy” rating and a $70.00 target price for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Celldex Therapeutics in a research note on Monday, September 30th. They set a “neutral” rating and a $45.00 target price for the company. Two 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.25.

Celldex Therapeutics Price Performance

The company’s 50 day moving average price is $29.35 and its 200 day moving average price is $34.60. The firm has a market cap of $1.85 billion, a PE ratio of -10.85 and a beta of 1.60.

Insider Activity

In other Celldex Therapeutics news, CEO Anthony S. Marucci acquired 11,500 shares of the stock in a transaction dated Monday, November 11th. The stock was acquired at an average price of $26.82 per share, with a total value of $308,430.00. Following the completion of the purchase, the chief executive officer now owns 40,284 shares in the company, valued at $1,080,416.88. This trade represents a 39.95 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CLDX. Vanguard Group Inc. lifted its stake in Celldex Therapeutics by 19.8% in the first quarter. Vanguard Group Inc. now owns 3,650,582 shares of the biopharmaceutical company’s stock worth $153,215,000 after acquiring an additional 604,251 shares during the last quarter. American International Group Inc. lifted its stake in Celldex Therapeutics by 32.6% in the first quarter. American International Group Inc. now owns 30,629 shares of the biopharmaceutical company’s stock worth $1,285,000 after acquiring an additional 7,535 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in 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 acquiring an additional 955 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in Celldex Therapeutics in the first quarter worth approximately $327,000. Finally, Bayesian Capital Management LP purchased a new position in Celldex Therapeutics in the first quarter worth approximately $470,000.

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.