Celldex Therapeutics (NASDAQ:CLDX) Issues Quarterly Earnings Results
by Amy Steele · The Cerbat GemCelldex Therapeutics (NASDAQ:CLDX – Get Free Report) released its earnings results on Thursday. The biopharmaceutical company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.05), FiscalAI reports. The business had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.80 million.
Celldex Therapeutics Price Performance
NASDAQ CLDX traded up $0.65 on Friday, reaching $33.97. The company had a trading volume of 794,142 shares, compared to its average volume of 765,234. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -7.97 and a beta of 0.98. Celldex Therapeutics has a fifty-two week low of $18.20 and a fifty-two week high of $35.79. The business has a 50 day moving average of $31.69 and a two-hundred day moving average of $27.87.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on CLDX shares. Stifel Nicolaus restated a “buy” rating and set a $68.00 target price (up from $58.00) on shares of Celldex Therapeutics in a research note on Thursday, February 26th. Wolfe Research upgraded Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research note on Monday, March 23rd. The Goldman Sachs Group increased their price target on Celldex Therapeutics from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Monday, April 20th. Finally, Barclays increased their price target on Celldex Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Celldex Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $46.64.
Read Our Latest Report on Celldex Therapeutics
Institutional Trading of Celldex Therapeutics
A number of institutional investors and hedge funds have recently bought and sold shares of CLDX. Wellington Management Group LLP increased its holdings in Celldex Therapeutics by 39.3% in the fourth quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company’s stock valued at $219,442,000 after purchasing an additional 2,279,605 shares during the period. Vestal Point Capital LP increased its holdings in Celldex Therapeutics by 781.0% in the second quarter. Vestal Point Capital LP now owns 1,750,000 shares of the biopharmaceutical company’s stock valued at $35,612,000 after purchasing an additional 1,551,354 shares during the period. Braidwell LP increased its holdings in Celldex Therapeutics by 214.0% in the fourth quarter. Braidwell LP now owns 1,858,109 shares of the biopharmaceutical company’s stock valued at $50,466,000 after purchasing an additional 1,266,420 shares during the period. State Street Corp increased its holdings in Celldex Therapeutics by 19.5% in the fourth quarter. State Street Corp now owns 3,397,713 shares of the biopharmaceutical company’s stock valued at $92,282,000 after purchasing an additional 555,579 shares during the period. Finally, ADAR1 Capital Management LLC grew its holdings in Celldex Therapeutics by 491.0% during the 4th quarter. ADAR1 Capital Management LLC now owns 646,767 shares of the biopharmaceutical company’s stock worth $17,566,000 after acquiring an additional 537,325 shares during the period.
Celldex Therapeutics Company Profile
Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted immunotherapies for cancer and other serious diseases. The company’s research platforms leverage novel antibody and vaccine technologies designed to engage the patient’s immune system, with a particular emphasis on oncology and neurologic indications. Celldex’s pipeline includes both monoclonal antibodies and biologic agents that seek to modulate immune responses or deliver targeted cytotoxic activity.
Among Celldex’s lead product candidates is glembatumumab vedotin, an antibody–drug conjugate directed against the glycoprotein NMB (gpNMB) for the treatment of certain breast and skin cancers.