Short Interest in Celldex Therapeutics, Inc. (NASDAQ:CLDX) Expands By 10.7%

Celldex Therapeutics, Inc. (NASDAQ:CLDX) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 8,090,000 shares, an increase of 10.7% from the December 15th total of 7,310,000 shares. Based on an average trading volume of 1,010,000 shares, the days-to-cover ratio is presently 8.0 days.

Insider Activity

In related news, CEO Anthony S. Marucci bought 11,500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was acquired at an average cost of $26.82 per share, for a total transaction of $308,430.00. Following the purchase, the chief executive officer now owns 40,284 shares in the company, valued at approximately $1,080,416.88. This represents a 39.95 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.80% of the company’s stock.

Institutional Trading of Celldex Therapeutics

Several hedge funds have recently modified their holdings of the company. KBC Group NV grew its holdings in shares of Celldex Therapeutics by 31.2% in the third quarter. KBC Group NV now owns 2,081 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 495 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Celldex Therapeutics by 23.7% in the 2nd quarter. AQR Capital Management LLC now owns 7,857 shares of the biopharmaceutical company’s stock worth $291,000 after buying an additional 1,504 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Celldex Therapeutics in the 2nd quarter worth about $76,000. Teachers Retirement System of The State of Kentucky raised its position in shares of Celldex Therapeutics by 5.1% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 42,628 shares of the biopharmaceutical company’s stock valued at $1,449,000 after buying an additional 2,070 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Celldex Therapeutics by 23.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 13,800 shares of the biopharmaceutical company’s stock valued at $469,000 after acquiring an additional 2,600 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CLDX shares. Citigroup started coverage on Celldex Therapeutics in a research report on Monday, October 7th. They set a “buy” rating and a $70.00 price objective for the company. Wolfe Research downgraded shares of Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Friday, September 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 price objective on shares of Celldex Therapeutics in a research note on Thursday, January 2nd. Wells Fargo & Company upgraded Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 26th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Celldex Therapeutics in a research report on Thursday, December 19th. Two investment 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.25.

Celldex Therapeutics Stock Performance

NASDAQ CLDX traded up $1.02 on Friday, reaching $23.78. The company had a trading volume of 854,667 shares, compared to its average volume of 852,336. The firm’s 50 day moving average price is $25.80 and its 200 day moving average price is $31.87. Celldex Therapeutics has a 12 month low of $22.17 and a 12 month high of $53.18.

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.