Celldex Therapeutics, Inc. (NASDAQ:CLDX) Sees Significant Growth in Short Interest

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

Celldex Therapeutics Price Performance

Shares of NASDAQ:CLDX traded down $0.47 during trading on Tuesday, hitting $38.60. 722,557 shares of the company were exchanged, compared to its average volume of 906,141. The stock has a market capitalization of $2.16 billion, a P/E ratio of -13.43 and a beta of 1.50. Celldex Therapeutics has a 12-month low of $22.11 and a 12-month high of $53.18. The firm’s 50 day moving average price is $41.95 and its 200-day moving average price is $35.60.

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

Analyst Ratings Changes

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

Institutional Trading of Celldex Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd raised its position in Celldex Therapeutics by 57.9% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,394 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 511 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Celldex Therapeutics by 70.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,941 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 805 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Celldex Therapeutics by 604.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,178 shares of the biopharmaceutical company’s stock worth $78,000 after buying an additional 1,869 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Celldex Therapeutics by 78.8% during the 1st quarter. Cubist Systematic Strategies LLC now owns 2,782 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 1,226 shares during the last quarter. Finally, Strs Ohio raised its position in Celldex Therapeutics by 92.9% during the 4th quarter. Strs Ohio now owns 2,700 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 1,300 shares during the last quarter.

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.