Propel Bio Management LLC Purchases Shares of 155,000 Celldex Therapeutics, Inc. $CLDX

Propel Bio Management LLC acquired a new stake in Celldex Therapeutics, Inc. (NASDAQ:CLDX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 155,000 shares of the biopharmaceutical company’s stock, valued at approximately $4,010,000. Celldex Therapeutics accounts for 4.0% of Propel Bio Management LLC’s holdings, making the stock its 9th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in CLDX. Commodore Capital LP raised its holdings in Celldex Therapeutics by 7.8% in the second quarter. Commodore Capital LP now owns 3,450,000 shares of the biopharmaceutical company’s stock valued at $70,208,000 after acquiring an additional 250,000 shares in the last quarter. Bellevue Group AG grew its holdings in Celldex Therapeutics by 7.7% during the 2nd quarter. Bellevue Group AG now owns 3,307,569 shares of the biopharmaceutical company’s stock worth $67,309,000 after acquiring an additional 235,954 shares in the last quarter. Vestal Point Capital LP increased its position in shares of Celldex Therapeutics by 781.0% in the 2nd quarter. Vestal Point Capital LP now owns 1,750,000 shares of the biopharmaceutical company’s stock valued at $35,612,000 after purchasing an additional 1,551,354 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Celldex Therapeutics by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,672,980 shares of the biopharmaceutical company’s stock valued at $34,050,000 after purchasing an additional 83,174 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Celldex Therapeutics by 12.8% in the 3rd quarter. Fisher Asset Management LLC now owns 927,157 shares of the biopharmaceutical company’s stock valued at $23,986,000 after purchasing an additional 104,949 shares in the last quarter.

Celldex Therapeutics Price Performance

NASDAQ CLDX opened at $29.54 on Thursday. The firm’s fifty day moving average price is $25.86 and its 200 day moving average price is $25.61. Celldex Therapeutics, Inc. has a 12 month low of $14.40 and a 12 month high of $31.31. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -7.59 and a beta of 1.17.

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

Analyst Ratings Changes

CLDX has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Wednesday, January 21st. The Goldman Sachs Group raised their price target on Celldex Therapeutics from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday. Barclays upped their price objective on Celldex Therapeutics from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 17th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 price objective (up from $58.00) on shares of Celldex Therapeutics in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $44.50.

Celldex Therapeutics 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.