Redmile Group LLC Cuts Stock Holdings in Celldex Therapeutics, Inc. (NASDAQ:CLDX)

Redmile Group LLC decreased its position in Celldex Therapeutics, Inc. (NASDAQ:CLDX) by 9.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 896,454 shares of the biopharmaceutical company’s stock after selling 97,349 shares during the quarter. Celldex Therapeutics makes up approximately 1.4% of Redmile Group LLC’s portfolio, making the stock its 28th largest position. Redmile Group LLC’s holdings in Celldex Therapeutics were worth $37,624,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CLDX. Price T Rowe Associates Inc. MD lifted its holdings in Celldex Therapeutics by 631.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,087,208 shares of the biopharmaceutical company’s stock worth $129,571,000 after acquiring an additional 2,664,915 shares during the period. Eventide Asset Management LLC boosted its holdings in shares of Celldex Therapeutics by 126.9% in the 4th quarter. Eventide Asset Management LLC now owns 3,630,013 shares of the biopharmaceutical company’s stock worth $143,966,000 after buying an additional 2,030,013 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Celldex Therapeutics by 105.3% in the 4th quarter. Point72 Asset Management L.P. now owns 2,756,122 shares of the biopharmaceutical company’s stock worth $109,308,000 after buying an additional 1,413,722 shares during the last quarter. Wellington Management Group LLP grew its position in Celldex Therapeutics by 19.2% during the fourth quarter. Wellington Management Group LLP now owns 6,476,561 shares of the biopharmaceutical company’s stock valued at $256,860,000 after buying an additional 1,044,728 shares during the period. Finally, Jennison Associates LLC increased its holdings in Celldex Therapeutics by 3,327.0% during the first quarter. Jennison Associates LLC now owns 688,080 shares of the biopharmaceutical company’s stock worth $28,879,000 after buying an additional 668,002 shares during the last quarter.

Celldex Therapeutics Trading Down 5.8 %

Shares of CLDX stock traded down $2.57 during trading on Monday, reaching $41.99. 505,131 shares of the company’s stock traded hands, compared to its average volume of 782,417. The firm’s 50-day moving average is $36.74 and its 200 day moving average is $39.19. The company has a market capitalization of $2.77 billion, a P/E ratio of -14.73 and a beta of 1.58. Celldex Therapeutics, Inc. has a 1 year low of $22.11 and a 1 year high of $53.18.

Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results on Monday, May 6th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.11. Celldex Therapeutics had a negative net margin of 2,385.57% and a negative return on equity of 29.55%. The business had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $1.30 million. As a group, sell-side analysts predict that Celldex Therapeutics, Inc. will post -2.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Celldex Therapeutics in a research note on Tuesday, July 16th. Wolfe Research began coverage on Celldex Therapeutics in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $51.00 price objective on the stock. Stifel Nicolaus assumed coverage on Celldex Therapeutics in a research report on Tuesday, June 18th. They issued a “buy” rating and a $58.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 target price on shares of Celldex Therapeutics in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Celldex Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $62.17.

Insider Buying and Selling at Celldex Therapeutics

In other news, CFO Samuel Bates Martin sold 17,172 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $35.42, for a total transaction of $608,232.24. Following the sale, the chief financial officer now directly owns 28,125 shares in the company, valued at $996,187.50. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Samuel Bates Martin sold 17,172 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $35.42, for a total value of $608,232.24. Following the transaction, the chief financial officer now owns 28,125 shares of the company’s stock, valued at $996,187.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Elizabeth Crowley sold 38,597 shares of Celldex Therapeutics stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $33.64, for a total value of $1,298,403.08. Following the sale, the vice president now directly owns 9,074 shares of the company’s stock, valued at approximately $305,249.36. The disclosure for this sale can be found here. Insiders sold 266,332 shares of company stock valued at $9,155,821 in the last quarter. 3.80% of the stock is currently owned by corporate insiders.

Celldex Therapeutics 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.