Celldex Therapeutics (NASDAQ:CLDX) Reaches New 12-Month Low – Here’s What Happened

Celldex Therapeutics, Inc. (NASDAQ:CLDX) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $22.91 and last traded at $23.02, with a volume of 65458 shares traded. The stock had previously closed at $24.35.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CLDX shares. Citigroup started coverage on shares of Celldex Therapeutics in a research report on Monday, October 7th. They set a “buy” rating and a $70.00 price target on the stock. The Goldman Sachs Group initiated coverage on shares of Celldex Therapeutics in a research report on Monday, September 30th. They set a “neutral” rating and a $45.00 price target on the stock. Wells Fargo & Company raised Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 26th. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a report on Thursday, January 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Celldex Therapeutics in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.25.

Celldex Therapeutics Stock Performance

The company has a 50-day moving average of $26.10 and a 200-day moving average of $32.34. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -9.02 and a beta of 1.62.

Insider Activity at Celldex Therapeutics

In other news, CEO Anthony S. Marucci purchased 11,500 shares of Celldex Therapeutics stock in a transaction on Monday, November 11th. The stock was purchased at an average price of $26.82 per share, with a total value of $308,430.00. Following the transaction, the chief executive officer now directly owns 40,284 shares in the company, valued at $1,080,416.88. The trade was a 39.95 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 3.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Celldex Therapeutics

A number of large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in Celldex Therapeutics by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 9,243,599 shares of the biopharmaceutical company’s stock worth $314,190,000 after acquiring an additional 1,167,659 shares during the last quarter. Bellevue Group AG boosted its position in Celldex Therapeutics by 3.4% during the 3rd quarter. Bellevue Group AG now owns 3,071,615 shares of the biopharmaceutical company’s stock worth $104,404,000 after acquiring an additional 100,000 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Celldex Therapeutics by 51.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,937,991 shares of the biopharmaceutical company’s stock worth $71,725,000 after acquiring an additional 654,194 shares during the last quarter. Geode Capital Management LLC boosted its position in Celldex Therapeutics by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,540,513 shares of the biopharmaceutical company’s stock worth $52,372,000 after acquiring an additional 6,557 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Celldex Therapeutics by 53.3% in the 2nd quarter. Marshall Wace LLP now owns 1,377,868 shares of the biopharmaceutical company’s stock valued at $50,995,000 after buying an additional 479,068 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.