Celldex Therapeutics (NASDAQ:CLDX) Stock Price Down 6% – What’s Next?

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) dropped 6% on Tuesday . The stock traded as low as $26.26 and last traded at $26.30. Approximately 612,116 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 851,939 shares. The stock had previously closed at $27.97.

Analyst Ratings Changes

CLDX has been the topic of a number of recent research reports. Wolfe Research downgraded shares of Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 27th. The Goldman Sachs Group started coverage on Celldex Therapeutics in a research report on Monday, September 30th. They set a “neutral” rating and a $45.00 target price on the stock. Citigroup started coverage on shares of Celldex Therapeutics in a report on Monday, October 7th. They issued a “buy” rating and a $70.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Celldex Therapeutics in a report on Monday. Finally, Wells Fargo & Company upgraded Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Celldex Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $62.25.

Celldex Therapeutics Trading Down 1.0 %

The firm’s fifty day simple moving average is $35.30 and its 200 day simple moving average is $36.42. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -9.61 and a beta of 1.55.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.05. The business had revenue of $2.50 million during the quarter, compared to analysts’ expectations of $1.13 million. Celldex Therapeutics had a negative return on equity of 23.66% and a negative net margin of 1,809.18%. As a group, sell-side analysts expect that Celldex Therapeutics, Inc. will post -2.5 EPS for the current year.

Institutional Investors Weigh In On Celldex Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Celldex Therapeutics during the second quarter worth about $76,000. Headlands Technologies LLC acquired a new position in Celldex Therapeutics during the first quarter worth approximately $147,000. CANADA LIFE ASSURANCE Co lifted its stake in Celldex Therapeutics by 26.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock valued at $192,000 after buying an additional 955 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Celldex Therapeutics by 34.3% in the first quarter. Ameritas Investment Partners Inc. now owns 6,198 shares of the biopharmaceutical company’s stock valued at $260,000 after acquiring an additional 1,582 shares during the period. Finally, Quest Partners LLC grew its position in shares of Celldex Therapeutics by 1,364.9% during the second quarter. Quest Partners LLC now owns 7,383 shares of the biopharmaceutical company’s stock worth $273,000 after acquiring an additional 6,879 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.