Celldex Therapeutics (NASDAQ:CLDX) Shares Gap Down to $31.44

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $31.44, but opened at $30.55. Celldex Therapeutics shares last traded at $31.90, with a volume of 1,358 shares traded.

Separately, Jefferies Financial Group began coverage on shares of Celldex Therapeutics in a research note on Friday, September 17th. They issued a “buy” rating and a $66.00 price target for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Celldex Therapeutics currently has a consensus rating of “Buy” and an average price target of $53.00.

The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -18.13 and a beta of 2.72. The firm’s 50 day moving average is $39.53 and its 200 day moving average is $43.76.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Tuesday, November 9th. The biopharmaceutical company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.09). Celldex Therapeutics had a negative net margin of 891.70% and a negative return on equity of 22.71%. The business had revenue of $0.15 million for the quarter, compared to analyst estimates of $1.70 million. On average, research analysts anticipate that Celldex Therapeutics, Inc. will post -1.59 EPS for the current year.

In other news, SVP Sarah Cavanaugh sold 7,323 shares of the business’s stock in a transaction that occurred on Wednesday, December 8th. The shares were sold at an average price of $40.00, for a total transaction of $292,920.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Samuel Bates Martin sold 9,500 shares of the business’s stock in a transaction that occurred on Thursday, December 23rd. The shares were sold at an average price of $42.00, for a total transaction of $399,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,923 shares of company stock valued at $1,463,359. Company insiders own 2.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Altium Capital Management LP raised its holdings in shares of Celldex Therapeutics by 106.9% during the second quarter. Altium Capital Management LP now owns 93,116 shares of the biopharmaceutical company’s stock valued at $3,114,000 after acquiring an additional 48,103 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Celldex Therapeutics by 18.5% during the second quarter. Dimensional Fund Advisors LP now owns 359,424 shares of the biopharmaceutical company’s stock valued at $12,020,000 after acquiring an additional 56,072 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Celldex Therapeutics in the 2nd quarter valued at approximately $268,000. Perceptive Advisors LLC acquired a new position in Celldex Therapeutics in the 2nd quarter valued at approximately $24,836,000. Finally, Hanseatic Management Services Inc. acquired a new position in Celldex Therapeutics in the 3rd quarter valued at approximately $72,000. Institutional investors and hedge funds own 92.10% of the company’s stock.

About Celldex Therapeutics (NASDAQ:CLDX)

Celldex Therapeutics, Inc engages in the business of development, manufacturing and commercialization of novel therapeutics for human health care. Its drug candidates have the ability to engage the human immune system and directly inhibit tumors to treat specific types of cancer and other diseases. Its pipeline includes Varlilumab, CDX-1140, and CDX-301, and CDX-3379.

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