Celldex Therapeutics (NASDAQ:CLDX) Trading Down 3.7%

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price dropped 3.7% on Monday . The company traded as low as $27.89 and last traded at $28.02. Approximately 240,143 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 561,606 shares. The stock had previously closed at $29.09.

Analyst Ratings Changes

CLDX has been the subject of a number of recent analyst reports. HC Wainwright increased their price target on Celldex Therapeutics from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Wells Fargo & Company upgraded Celldex Therapeutics from an “underweight” rating to an “equal weight” rating and set a $27.00 price target for the company in a research report on Friday, November 10th. Finally, Cantor Fitzgerald decreased their price target on Celldex Therapeutics from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, November 3rd.

Celldex Therapeutics Stock Performance

The stock has a 50 day moving average price of $26.36 and a two-hundred day moving average price of $30.85. The company has a market capitalization of $1.30 billion, a PE ratio of -11.38 and a beta of 2.06.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.14). Celldex Therapeutics had a negative return on equity of 43.22% and a negative net margin of 2,854.75%. The firm had revenue of $1.52 million for the quarter, compared to analysts’ expectations of $0.60 million. Sell-side analysts predict that Celldex Therapeutics, Inc. will post -2.9 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in Celldex Therapeutics by 61.5% in the 1st quarter. Wellington Management Group LLP now owns 3,529,840 shares of the biopharmaceutical company’s stock worth $120,227,000 after buying an additional 1,343,864 shares during the period. Kynam Capital Management LP increased its position in Celldex Therapeutics by 84.5% in the 2nd quarter. Kynam Capital Management LP now owns 2,600,000 shares of the biopharmaceutical company’s stock worth $88,218,000 after buying an additional 1,190,549 shares during the period. Point72 Asset Management L.P. increased its position in Celldex Therapeutics by 416.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,184,800 shares of the biopharmaceutical company’s stock worth $40,200,000 after buying an additional 955,297 shares during the period. Pictet Asset Management SA bought a new position in Celldex Therapeutics in the 1st quarter worth approximately $28,051,000. Finally, State Street Corp increased its position in Celldex Therapeutics by 20.4% in the 2nd quarter. State Street Corp now owns 3,228,852 shares of the biopharmaceutical company’s stock worth $87,050,000 after buying an additional 546,124 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 diseases and various forms of cancer. The company's clinical development programs CDX-0159, a Phase II monoclonal antibody that binds the receptor tyrosine kinase KIT and inhibits its activity; CDX-1140, a human agonist monoclonal antibody targeted to CD40, a key activator of immune response, which is found on dendritic cells, macrophages, and B cells, as well as is expressed on various cancer cells; and CDX-527, a bispecific antibody, which uses the company's proprietary active anti-PD-L1 and CD27 human antibodies to couple CD27 costimulation with blockade of the PD-L1/PD-1 pathway to help prime and activate anti-tumor T cell responses through CD27 costimulation.