Short Interest in Celldex Therapeutics, Inc. (NASDAQ:CLDX) Drops By 5.1%

Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) was the recipient of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 7,310,000 shares, a decrease of 5.1% from the November 30th total of 7,700,000 shares. Based on an average daily volume of 1,210,000 shares, the short-interest ratio is currently 6.0 days.

Celldex Therapeutics Stock Performance

CLDX traded up $0.15 during trading on Wednesday, hitting $25.27. The stock had a trading volume of 448,362 shares, compared to its average volume of 885,965. The stock has a 50 day simple moving average of $26.17 and a two-hundred day simple moving average of $32.81. The company has a market capitalization of $1.68 billion, a PE ratio of -9.83 and a beta of 1.57. Celldex Therapeutics has a twelve month low of $22.93 and a twelve month high of $53.18.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on Celldex Therapeutics in a report on Monday, September 30th. They issued a "neutral" rating and a $45.00 target price for the company. Citigroup started coverage on shares of Celldex Therapeutics in a research note on Monday, October 7th. They issued 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 research report on Friday, September 27th. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price target on shares of Celldex Therapeutics in a research report on Thursday, December 19th. Finally, Wells Fargo & Company raised shares of Celldex Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Celldex Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $62.25.

Insider Transactions at Celldex Therapeutics

In other news, CEO Anthony S. Marucci purchased 11,500 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average price of $26.82 per share, for a total transaction of $308,430.00. Following the completion of the acquisition, the chief executive officer now owns 40,284 shares of the company's stock, valued at approximately $1,080,416.88. This trade represents a 39.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLDX. Wellington Management Group LLP grew its holdings in shares of Celldex Therapeutics by 14.5% during the third quarter. Wellington Management Group LLP now owns 9,243,599 shares of the biopharmaceutical company's stock valued at $314,190,000 after buying an additional 1,167,659 shares during the last quarter. Novo Holdings A S purchased a new stake in shares of Celldex Therapeutics in the second quarter worth about $31,458,000. Point72 Asset Management L.P. raised its position in Celldex Therapeutics by 51.0% during the second quarter. Point72 Asset Management L.P. now owns 1,937,991 shares of the biopharmaceutical company's stock valued at $71,725,000 after acquiring an additional 654,194 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Celldex Therapeutics by 53.3% during the 2nd quarter. Marshall Wace LLP now owns 1,377,868 shares of the biopharmaceutical company's stock worth $50,995,000 after purchasing an additional 479,068 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Celldex Therapeutics by 32.0% during the 3rd quarter. Jennison Associates LLC now owns 1,324,410 shares of the biopharmaceutical company's stock valued at $45,017,000 after purchasing an additional 321,325 shares in 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.