Celldex Therapeutics (NASDAQ:CLDX) Shares Up 4.9% – Here’s What Happened

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price shot up 4.9% during trading on Tuesday . The company traded as high as $24.59 and last traded at $24.46. 187,152 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 872,933 shares. The stock had previously closed at $23.31.

Analysts Set New Price Targets

A number of brokerages have commented on CLDX. Citigroup initiated coverage on shares of Celldex Therapeutics in a research note on Monday, October 7th. They issued a “buy” rating and a $70.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Celldex Therapeutics in a report on Thursday, November 7th. Wolfe Research downgraded Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 27th. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a research note on Monday, September 16th. Finally, The Goldman Sachs Group started coverage on shares of Celldex Therapeutics in a research note on Monday, September 30th. They issued a “neutral” rating and a $45.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $62.25.

Celldex Therapeutics Stock Performance

The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -9.88 and a beta of 1.60. The firm has a fifty day moving average price of $31.51 and a 200 day moving average price of $35.27.

Insider Activity

In related news, CEO Anthony S. Marucci purchased 11,500 shares of Celldex Therapeutics stock in a transaction dated Monday, November 11th. The stock was bought at an average cost of $26.82 per share, for a total transaction of $308,430.00. Following the transaction, the chief executive officer now owns 40,284 shares in the company, valued at approximately $1,080,416.88. The trade was a 39.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Celldex Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CLDX. KBC Group NV raised its holdings in shares of Celldex Therapeutics by 31.2% in the third quarter. KBC Group NV now owns 2,081 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 495 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Celldex Therapeutics during the second quarter worth approximately $76,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of Celldex Therapeutics by 26.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock valued at $192,000 after buying an additional 955 shares during the period. Ameritas Investment Partners Inc. lifted its position in shares of Celldex Therapeutics by 34.3% during the first quarter. Ameritas Investment Partners Inc. now owns 6,198 shares of the biopharmaceutical company’s stock worth $260,000 after purchasing an additional 1,582 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in Celldex Therapeutics by 1,364.9% in the second quarter. Quest Partners LLC now owns 7,383 shares of the biopharmaceutical company’s stock valued at $273,000 after buying an additional 6,879 shares during the last quarter.

Celldex Therapeutics Company Profile

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.