Celldex Therapeutics (NASDAQ:CLDX) Stock Price Down 8.5% – Should You Sell?

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s share price was down 8.5% on Wednesday . The stock traded as low as $30.76 and last traded at $30.6490. Approximately 1,895,097 shares changed hands during mid-day trading, an increase of 87% from the average daily volume of 1,012,472 shares. The stock had previously closed at $33.51.

Key Headlines Impacting Celldex Therapeutics

Here are the key news stories impacting Celldex Therapeutics this week:

• Positive Sentiment: Barzolvolimab met all major trial objectives. Celldex reported that its Phase 3 EMBARQ-CSU1 and EMBARQ-CSU2 studies met their primary and key secondary endpoints in chronic spontaneous urticaria. The drug showed meaningful benefits, including in patients who had not responded adequately to omalizumab and those with severe disease or angioedema. Efficacy was sustained or improved through 24 weeks, and the company expects to submit a biologics license application in 2027. Celldex Phase 3 results
• Positive Sentiment: Analysts raised their valuation estimates. Leerink Partners increased its price target to $88 and assigned an “outperform” rating. Morgan Stanley raised its target to $57 and rated the stock “overweight,” while Cantor Fitzgerald lifted its target to $72 and HC Wainwright raised its target to $64 with a “buy” rating. These revisions indicate that analysts see substantial commercial potential for barzolvolimab.
• Neutral Sentiment: The market reaction was driven by expectations as well as fundamentals. The positive readout was a major anticipated catalyst, potentially encouraging profit-taking after the announcement. Celldex will continue both studies through 52 weeks, leaving additional follow-up data and regulatory execution as important catalysts.
• Negative Sentiment: Safety concerns tempered enthusiasm. Reports said investors remained concerned about the treatment’s safety profile despite management’s description of barzolvolimab as well tolerated through 24 weeks. Analysts have argued that these concerns may be misplaced, but the issue remains a source of volatility. Safety concerns report
• Negative Sentiment: Celldex’s heavy cash burn remains a longer-term risk. Coverage has questioned whether the company can fund development and commercialization without raising additional capital, a concern for a loss-making biotechnology company with substantial future spending needs. Celldex cash-burn analysis

Analyst Upgrades and Downgrades

CLDX has been the topic of a number of research reports. Leerink Partners raised their price target on Celldex Therapeutics from $70.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday. Guggenheim increased their price objective on Celldex Therapeutics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, July 20th. Wall Street Zen raised shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Stifel Nicolaus set a $68.00 price objective on shares of Celldex Therapeutics in a research note on Tuesday. Finally, Barclays upped their target price on shares of Celldex Therapeutics from $48.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Celldex Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.92.

Celldex Therapeutics Trading Down 8.1%

The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of -7.10 and a beta of 0.84. The firm’s 50 day simple moving average is $39.03 and its 200-day simple moving average is $34.84.

Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.12. The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.73 million. As a group, sell-side analysts forecast that Celldex Therapeutics, Inc. will post -4.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

Large investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in shares of Celldex Therapeutics by 11.5% in the second quarter. Wellington Management Group LLP now owns 9,543,671 shares of the biopharmaceutical company’s stock valued at $355,120,000 after buying an additional 983,195 shares in the last quarter. Commodore Capital LP raised its position in Celldex Therapeutics by 5.1% in the first quarter. Commodore Capital LP now owns 2,696,616 shares of the biopharmaceutical company’s stock worth $85,537,000 after acquiring an additional 131,616 shares in the last quarter. Eversept Partners LP lifted its holdings in Celldex Therapeutics by 24.6% in the first quarter. Eversept Partners LP now owns 1,788,016 shares of the biopharmaceutical company’s stock valued at $56,716,000 after acquiring an additional 353,291 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Celldex Therapeutics by 62.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,059,534 shares of the biopharmaceutical company’s stock valued at $33,596,000 after acquiring an additional 407,818 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Celldex Therapeutics by 438.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 788,696 shares of the biopharmaceutical company’s stock worth $29,347,000 after purchasing an additional 642,171 shares in the last quarter.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based therapeutics for diseases with significant unmet medical needs. The company’s research programs address conditions in immunology, inflammation, oncology and other areas where targeted immune-system modulation may provide therapeutic benefits.

Celldex’s lead investigational product is barzolvolimab, an antibody designed to block the KIT receptor and reduce mast cells. The therapy is being studied in immune-mediated diseases, including chronic spontaneous urticaria and prurigo nodularis.