Celldex Therapeutics (NASDAQ:CLDX) Hits New 1-Year Low - Here's Why

Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $14.61 and last traded at $14.99, with a volume of 43986 shares traded. The stock had previously closed at $15.78.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CLDX. HC Wainwright reissued a "buy" rating and set a $80.00 price objective on shares of Celldex Therapeutics in a research report on Friday, February 28th. UBS Group started coverage on shares of Celldex Therapeutics in a research report on Thursday, February 13th. They issued a "buy" rating and a $44.00 target price for the company. The Goldman Sachs Group cut their price target on shares of Celldex Therapeutics from $42.00 to $36.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Morgan Stanley started coverage on shares of Celldex Therapeutics in a report on Thursday, March 20th. They issued an "overweight" rating and a $46.00 price objective for the company. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $67.00 target price on shares of Celldex Therapeutics in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $54.33.

Celldex Therapeutics Stock Performance

The stock's 50-day simple moving average is $19.99 and its two-hundred day simple moving average is $24.37. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -6.55 and a beta of 1.59.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.02. The business had revenue of $1.18 million during the quarter, compared to analysts' expectations of $1.25 million. Celldex Therapeutics had a negative return on equity of 19.75% and a negative net margin of 1,544.32%. As a group, research analysts predict that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current year.

Institutional Investors Weigh In On Celldex Therapeutics

Several hedge funds have recently modified their holdings of CLDX. Deep Track Capital LP acquired a new position in Celldex Therapeutics during the 4th quarter valued at $38,919,000. Point72 Asset Management L.P. lifted its stake in shares of Celldex Therapeutics by 50.8% in the fourth quarter. Point72 Asset Management L.P. now owns 2,515,972 shares of the biopharmaceutical company's stock valued at $63,579,000 after buying an additional 847,264 shares during the period. Price T Rowe Associates Inc. MD grew its position in Celldex Therapeutics by 23.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,557,136 shares of the biopharmaceutical company's stock worth $89,890,000 after buying an additional 676,771 shares in the last quarter. Vestal Point Capital LP bought a new position in Celldex Therapeutics during the fourth quarter valued at about $7,707,000. Finally, American Century Companies Inc. raised its holdings in Celldex Therapeutics by 46.5% in the 4th quarter. American Century Companies Inc. now owns 608,457 shares of the biopharmaceutical company's stock valued at $15,376,000 after acquiring an additional 193,093 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.