Short Interest in Celldex Therapeutics, Inc. (NASDAQ:CLDX) Grows By 11.2%

Celldex Therapeutics, Inc. (NASDAQ:CLDX) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 6,560,000 shares, an increase of 11.2% from the March 15th total of 5,900,000 shares. Based on an average daily volume of 952,500 shares, the days-to-cover ratio is currently 6.9 days.

Celldex Therapeutics Stock Down 1.2 %

NASDAQ CLDX opened at $38.60 on Wednesday. The company has a 50-day moving average price of $41.98 and a 200-day moving average price of $35.68. Celldex Therapeutics has a 52 week low of $22.11 and a 52 week high of $53.18. The firm has a market capitalization of $2.16 billion, a P/E ratio of -13.26 and a beta of 1.50.

Celldex Therapeutics (NASDAQ:CLDX) last announced its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.19. Celldex Therapeutics had a negative net margin of 2,054.46% and a negative return on equity of 41.06%. The company had revenue of $4.13 million during the quarter, compared to analyst estimates of $1.20 million. As a group, equities research analysts anticipate that Celldex Therapeutics will post -2.85 EPS for the current year.

Institutional Investors Weigh In On Celldex Therapeutics

A number of hedge funds have recently modified their holdings of CLDX. Wellington Management Group LLP lifted its holdings in Celldex Therapeutics by 5.9% during the third quarter. Wellington Management Group LLP now owns 5,431,833 shares of the biopharmaceutical company’s stock valued at $149,484,000 after purchasing an additional 300,406 shares in the last quarter. GSA Capital Partners LLP lifted its stake in shares of Celldex Therapeutics by 192.0% during the 3rd quarter. GSA Capital Partners LLP now owns 44,716 shares of the biopharmaceutical company’s stock valued at $1,231,000 after buying an additional 29,404 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in Celldex Therapeutics in the 4th quarter worth $994,000. SG Americas Securities LLC boosted its holdings in Celldex Therapeutics by 1,481.7% in the 3rd quarter. SG Americas Securities LLC now owns 78,011 shares of the biopharmaceutical company’s stock worth $2,147,000 after buying an additional 73,079 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Celldex Therapeutics by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 361,547 shares of the biopharmaceutical company’s stock worth $9,950,000 after buying an additional 10,818 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CLDX shares. Guggenheim upped their target price on shares of Celldex Therapeutics from $72.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a research report on Friday, March 22nd. Finally, TD Cowen started coverage on shares of Celldex Therapeutics in a research report on Wednesday, December 20th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $66.00.

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.