Celldex Therapeutics, Inc. (NASDAQ:CLDX) Sees Significant Drop in Short Interest

Celldex Therapeutics, Inc. (NASDAQ:CLDX) saw a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 7,310,000 shares, a drop of 5.1% from the November 30th total of 7,700,000 shares. Based on an average daily volume of 1,210,000 shares, the short-interest ratio is presently 6.0 days.

Celldex Therapeutics Stock Performance

Shares of Celldex Therapeutics stock traded up $0.15 on Wednesday, reaching $25.27. 448,362 shares of the company’s stock were exchanged, compared to its average volume of 885,965. The company has a market capitalization of $1.68 billion, a P/E ratio of -9.83 and a beta of 1.57. Celldex Therapeutics has a 52 week low of $22.93 and a 52 week high of $53.18. The firm’s 50-day moving average is $26.17 and its two-hundred day moving average is $32.81.

Insider Transactions at Celldex Therapeutics

In other Celldex Therapeutics news, CEO Anthony S. Marucci acquired 11,500 shares of the business’s stock in a transaction on Monday, November 11th. The stock was purchased at an average price of $26.82 per share, with a total value of $308,430.00. Following the acquisition, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of Celldex Therapeutics by 14.5% in the third quarter. Wellington Management Group LLP now owns 9,243,599 shares of the biopharmaceutical company’s stock valued at $314,190,000 after buying an additional 1,167,659 shares in the last quarter. Bellevue Group AG raised its holdings in shares of Celldex Therapeutics by 3.4% in the 3rd quarter. Bellevue Group AG now owns 3,071,615 shares of the biopharmaceutical company’s stock worth $104,404,000 after acquiring an additional 100,000 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Celldex Therapeutics by 51.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,937,991 shares of the biopharmaceutical company’s stock valued at $71,725,000 after acquiring an additional 654,194 shares in the last quarter. Geode Capital Management LLC lifted its position in Celldex Therapeutics by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,540,513 shares of the biopharmaceutical company’s stock valued at $52,372,000 after acquiring an additional 6,557 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Celldex Therapeutics by 53.3% during the 2nd quarter. Marshall Wace LLP now owns 1,377,868 shares of the biopharmaceutical company’s stock valued at $50,995,000 after purchasing an additional 479,068 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wolfe Research downgraded Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 27th. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Celldex Therapeutics in a report on Thursday, December 19th. Citigroup started coverage on shares of Celldex Therapeutics in a report on Monday, October 7th. They set a “buy” rating and a $70.00 price target on the stock. The Goldman Sachs Group began coverage on shares of Celldex Therapeutics in a research note on Monday, September 30th. They issued a “neutral” rating and a $45.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $67.00 target price on shares of Celldex Therapeutics in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.25.

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.