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

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price traded down 5.1% on Tuesday . The stock traded as low as $26.53 and last traded at $26.70. 195,982 shares traded hands during mid-day 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

CLDX has been the subject of several research analyst reports. Wolfe Research cut shares of Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 target price on shares of Celldex Therapeutics in a report on Monday, September 16th. Citigroup began coverage on Celldex Therapeutics in a research note on Monday, October 7th. They issued a “buy” rating and a $70.00 target price for the company. Wells Fargo & Company raised Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 26th. Finally, HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Celldex Therapeutics in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.25.

Celldex Therapeutics Price Performance

The company has a market cap of $1.81 billion, a PE ratio of -10.95 and a beta of 1.60. The business has a 50-day moving average of $29.92 and a 200 day moving average of $34.74.

Insider Transactions at Celldex Therapeutics

In related news, CEO Anthony S. Marucci acquired 11,500 shares of Celldex Therapeutics stock in a transaction dated Monday, November 11th. The stock was purchased at an average cost of $26.82 per share, for a total transaction 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. This trade represents a 39.95 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Celldex Therapeutics

Hedge funds have recently bought and sold shares of the stock. KBC Group NV raised its stake in shares of Celldex Therapeutics by 31.2% in the third 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 period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Celldex Therapeutics during the 2nd quarter worth approximately $76,000. CANADA LIFE ASSURANCE Co raised its stake in Celldex Therapeutics by 26.4% during the 1st 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 period. Quest Partners LLC lifted its holdings in Celldex Therapeutics by 1,364.9% during the second quarter. Quest Partners LLC now owns 7,383 shares of the biopharmaceutical company’s stock valued at $273,000 after purchasing an additional 6,879 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in shares of Celldex Therapeutics by 9.5% in the second quarter. Los Angeles Capital Management LLC now owns 7,371 shares of the biopharmaceutical company’s stock worth $273,000 after purchasing an additional 638 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.