Celldex Therapeutics (NASDAQ:CLDX) Sets New 12-Month High – Here’s What Happened

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $34.76 and last traded at $34.7010, with a volume of 35672 shares changing hands. The stock had previously closed at $33.86.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. The Goldman Sachs Group increased their price objective on Celldex Therapeutics from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Stifel Nicolaus restated a “buy” rating and set a $68.00 price target (up from $58.00) on shares of Celldex Therapeutics in a research report on Thursday, February 26th. Wolfe Research upgraded Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Monday, March 23rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.45.

Celldex Therapeutics Stock Performance

The firm has a 50-day moving average of $29.11 and a 200-day moving average of $27.21. The firm has a market capitalization of $2.34 billion, a P/E ratio of -8.99 and a beta of 1.19.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.22). The firm had revenue of $0.12 million during the quarter, compared to analysts’ expectations of $1.53 million. Equities analysts anticipate that Celldex Therapeutics, Inc. will post -2.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

A number of large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its position in shares of Celldex Therapeutics by 27.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 501 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Celldex Therapeutics by 1.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock worth $798,000 after buying an additional 680 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Celldex Therapeutics by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 11,973 shares of the biopharmaceutical company’s stock worth $325,000 after buying an additional 773 shares during the last quarter. DNB Asset Management AS grew its position in shares of Celldex Therapeutics by 7.7% in the 3rd quarter. DNB Asset Management AS now owns 13,251 shares of the biopharmaceutical company’s stock worth $343,000 after buying an additional 951 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Celldex Therapeutics in the 3rd quarter worth approximately $26,000.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted immunotherapies for cancer and other serious diseases. The company’s research platforms leverage novel antibody and vaccine technologies designed to engage the patient’s immune system, with a particular emphasis on oncology and neurologic indications. Celldex’s pipeline includes both monoclonal antibodies and biologic agents that seek to modulate immune responses or deliver targeted cytotoxic activity.

Among Celldex’s lead product candidates is glembatumumab vedotin, an antibody–drug conjugate directed against the glycoprotein NMB (gpNMB) for the treatment of certain breast and skin cancers.