Celldex Therapeutics (NASDAQ:CLDX) Reaches New 52-Week Low – What’s Next?

Celldex Therapeutics, Inc. (NASDAQ:CLDX) reached a new 52-week low on Friday . The stock traded as low as $24.34 and last traded at $24.37, with a volume of 224617 shares trading hands. The stock had previously closed at $25.74.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wolfe Research downgraded Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Friday, September 27th. The Goldman Sachs Group began coverage on Celldex Therapeutics in a research report on Monday, September 30th. They set a “neutral” rating and a $45.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Celldex Therapeutics in a research report on Thursday, November 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $67.00 target price on shares of Celldex Therapeutics in a research report on Monday, September 16th. Finally, Wells Fargo & Company raised Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Celldex Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $62.25.

Celldex Therapeutics Stock Down 6.7 %

The firm has a 50 day simple moving average of $32.30 and a two-hundred day simple moving average of $35.53. The stock has a market capitalization of $1.59 billion, a P/E ratio of -9.56 and a beta of 1.60.

Insider Buying and Selling

In other Celldex Therapeutics news, CEO Anthony S. Marucci purchased 11,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $26.82 per share, with a total value of $308,430.00. Following the transaction, the chief executive officer now owns 40,284 shares in the company, valued at $1,080,416.88. The trade was a 39.95 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Celldex Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Novo Holdings A S grew its position in shares of Celldex Therapeutics by 13.4% during the 3rd quarter. Novo Holdings A S now owns 963,663 shares of the biopharmaceutical company’s stock valued at $32,755,000 after purchasing an additional 113,663 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of 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 valued at $129,571,000 after buying an additional 2,664,915 shares during the period. Swiss National Bank grew its holdings in Celldex Therapeutics by 17.8% in the first quarter. Swiss National Bank now owns 114,300 shares of the biopharmaceutical company’s stock worth $4,797,000 after purchasing an additional 17,300 shares during the period. Bellevue Group AG grew its holdings in Celldex Therapeutics by 15.7% in the first quarter. Bellevue Group AG now owns 2,796,615 shares of the biopharmaceutical company’s stock worth $117,374,000 after purchasing an additional 380,319 shares during the period. Finally, AlphaCentric Advisors LLC grew its holdings in shares of Celldex Therapeutics by 23.4% during the second quarter. AlphaCentric Advisors LLC now owns 47,500 shares of the biopharmaceutical company’s stock valued at $1,758,000 after buying an additional 9,000 shares during 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.