Celldex Therapeutics (NASDAQ:CLDX) Hits New 12-Month Low on Analyst Downgrade

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) hit a new 52-week low during trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $42.00 to $36.00. The Goldman Sachs Group currently has a neutral rating on the stock. Celldex Therapeutics traded as low as $19.66 and last traded at $19.68, with a volume of 326380 shares traded. The stock had previously closed at $20.57.

CLDX has been the subject of several other reports. Cantor Fitzgerald restated an "overweight" rating and set a $67.00 target price on shares of Celldex Therapeutics in a research report on Wednesday, January 29th. HC Wainwright restated a "buy" rating and set a $80.00 target price on shares of Celldex Therapeutics in a research report on Friday, February 28th. Finally, UBS Group began coverage on Celldex Therapeutics in a report on Thursday, February 13th. They set a "buy" rating and a $44.00 price objective on the stock. Two analysts have rated the stock with a hold rating, five 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 stock has a consensus rating of "Moderate Buy" and an average target price of $55.38.

Institutional Investors Weigh In On Celldex Therapeutics

Several institutional investors have recently bought and sold shares of the company. Polar Asset Management Partners Inc. lifted its stake in Celldex Therapeutics by 1,318.0% in the 4th quarter. Polar Asset Management Partners Inc. now owns 137,550 shares of the biopharmaceutical company's stock valued at $3,476,000 after acquiring an additional 127,850 shares in the last quarter. TFG Asset Management GP Ltd acquired a new position in shares of Celldex Therapeutics during the 4th quarter worth approximately $4,852,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Celldex Therapeutics by 13.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,317 shares of the biopharmaceutical company's stock worth $2,939,000 after purchasing an additional 13,722 shares during the last quarter. Vestal Point Capital LP acquired a new position in shares of Celldex Therapeutics during the 4th quarter worth approximately $7,707,000. Finally, Two Sigma Investments LP acquired a new position in shares of Celldex Therapeutics during the 4th quarter worth approximately $835,000.

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Celldex Therapeutics Stock Performance

The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -8.30 and a beta of 1.76. The company has a 50-day simple moving average of $23.48 and a two-hundred day simple moving average of $28.59.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $1.18 million for the quarter, compared to analyst estimates 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, sell-side analysts predict that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal year.

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.