Celldex Therapeutics (NASDAQ:CLDX) Coverage Initiated at Wolfe Research

Wolfe Research began coverage on shares of Celldex Therapeutics (NASDAQ:CLDXFree Report) in a report released on Tuesday, MarketBeat reports. The brokerage issued an outperform rating and a $51.00 price target on the biopharmaceutical company’s stock.

Several other equities analysts also recently commented on the company. Guggenheim boosted their price objective on Celldex Therapeutics from $72.00 to $90.00 and gave the company a buy rating in a research report on Tuesday, February 27th. Cantor Fitzgerald restated an overweight rating and issued a $67.00 price objective on shares of Celldex Therapeutics in a research report on Friday, March 22nd. Finally, HC Wainwright reiterated a buy rating and issued a $80.00 target price on shares of Celldex Therapeutics in a research report on Monday, June 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $63.00.

View Our Latest Stock Analysis on CLDX

Celldex Therapeutics Stock Performance

NASDAQ CLDX opened at $36.43 on Tuesday. The company has a market capitalization of $2.40 billion, a PE ratio of -12.78 and a beta of 1.47. The business’s fifty day moving average is $37.86 and its 200 day moving average is $38.82. Celldex Therapeutics has a fifty-two week low of $22.11 and a fifty-two week high of $53.18.

Celldex Therapeutics (NASDAQ:CLDXGet Free Report) last released its earnings results on Monday, May 6th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.11. Celldex Therapeutics had a negative return on equity of 29.55% and a negative net margin of 2,385.57%. The company had revenue of $0.16 million for the quarter, compared to the consensus estimate of $1.30 million. On average, sell-side analysts forecast that Celldex Therapeutics will post -2.32 EPS for the current year.

Insiders Place Their Bets

In other Celldex Therapeutics news, VP Elizabeth Crowley sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $35.06, for a total transaction of $525,900.00. Following the sale, the vice president now directly owns 9,074 shares of the company’s stock, valued at $318,134.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Samuel Bates Martin sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $34.05, for a total transaction of $1,191,750.00. Following the transaction, the chief financial officer now owns 25,128 shares of the company’s stock, valued at $855,608.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Elizabeth Crowley sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $35.06, for a total value of $525,900.00. Following the transaction, the vice president now directly owns 9,074 shares in the company, valued at approximately $318,134.44. The disclosure for this sale can be found here. Insiders have sold 219,160 shares of company stock valued at $7,501,489 over the last ninety days. 3.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund grew its stake in shares of Celldex Therapeutics by 3.6% during the third quarter. New York State Common Retirement Fund now owns 23,780 shares of the biopharmaceutical company’s stock valued at $654,000 after buying an additional 821 shares during the last quarter. Swiss National Bank grew its stake in shares of Celldex Therapeutics by 1.0% during the third quarter. Swiss National Bank now owns 88,300 shares of the biopharmaceutical company’s stock valued at $2,430,000 after buying an additional 900 shares during the last quarter. Fisher Asset Management LLC grew its stake in Celldex Therapeutics by 4.6% in the fourth quarter. Fisher Asset Management LLC now owns 21,492 shares of the biopharmaceutical company’s stock worth $852,000 after purchasing an additional 954 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Celldex Therapeutics by 26.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock worth $192,000 after purchasing an additional 955 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Celldex Therapeutics by 3.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,258 shares of the biopharmaceutical company’s stock worth $1,041,000 after purchasing an additional 962 shares in the last quarter.

About Celldex Therapeutics

(Get Free Report)

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.

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