Celldex Therapeutics (NASDAQ:CLDX) Reaches New 1-Year High – Should You Buy?
by Tristan Rich · The Markets DailyCelldex Therapeutics, Inc. (NASDAQ:CLDX – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $31.00 and last traded at $30.82, with a volume of 3754553 shares traded. The stock had previously closed at $24.84.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on CLDX shares. Barclays increased their target price on shares of Celldex Therapeutics from $21.00 to $24.00 and gave the company an “underweight” rating in a research report on Wednesday, December 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.56.
Read Our Latest Stock Report on Celldex Therapeutics
Celldex Therapeutics Stock Performance
The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -9.12 and a beta of 1.24. The business’s 50 day moving average is $25.51 and its 200 day moving average is $25.40.
Celldex Therapeutics (NASDAQ:CLDX – Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.22). Celldex Therapeutics had a negative return on equity of 33.22% and a negative net margin of 3,446.88%.The company had revenue of $0.12 million during the quarter, compared to analysts’ expectations of $1.53 million. Sell-side analysts predict that Celldex Therapeutics, Inc. will post -2.48 EPS for the current year.
Institutional Trading of Celldex Therapeutics
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in Celldex Therapeutics during the 3rd quarter valued at about $26,000. Nisa Investment Advisors LLC lifted its holdings in shares of Celldex Therapeutics by 171.7% during the second quarter. Nisa Investment Advisors LLC now owns 1,394 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 881 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Celldex Therapeutics during the third quarter worth about $42,000. Russell Investments Group Ltd. boosted its position in Celldex Therapeutics by 27.6% in the second quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 501 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Celldex Therapeutics in the 3rd quarter worth approximately $63,000.
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.