Celldex Therapeutics (NASDAQ:CLDX) Stock Price Up 3.7% – Should You Buy?

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s share price was up 3.7% during trading on Friday . The stock traded as high as $31.85 and last traded at $31.1520. Approximately 253,331 shares changed hands during trading, a decline of 69% from the average daily volume of 814,822 shares. The stock had previously closed at $30.03.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Barclays increased their price target 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. Stifel Nicolaus restated a “buy” rating and set a $68.00 price target (up from $58.00) on shares of Celldex Therapeutics in a research report on Thursday, February 26th. The Goldman Sachs Group boosted their target price on Celldex Therapeutics from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Celldex Therapeutics Stock Performance

The business’s 50-day moving average is $26.57 and its 200-day moving average is $26.16. The company has a market capitalization of $2.04 billion, a PE ratio of -7.83 and a beta of 1.17.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.22). The firm had revenue of $0.12 million during the quarter, compared to analysts’ expectations of $1.53 million. Celldex Therapeutics had a negative return on equity of 41.67% and a negative net margin of 3,446.88%. Analysts expect that Celldex Therapeutics, Inc. will post -2.48 EPS for the current year.

Institutional Trading of Celldex Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CLDX. Aster Capital Management DIFC Ltd bought a new position in shares of Celldex Therapeutics during the 3rd quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB purchased a new position in Celldex Therapeutics during the third quarter worth approximately $42,000. Russell Investments Group Ltd. increased its position in shares of 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 in the last quarter. Quantbot Technologies LP acquired a new position in shares of Celldex Therapeutics during the 3rd quarter worth approximately $63,000. Finally, Strs Ohio purchased a new position in shares of Celldex Therapeutics during the 3rd quarter valued at approximately $75,000.

About Celldex Therapeutics

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.