Celldex Therapeutics (NASDAQ:CLDX) Sets New 12-Month Low - What's Next?

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) reached a new 52-week low on Friday . The company traded as low as $24.34 and last traded at $24.37, with a volume of 224617 shares changing hands. The stock had previously closed at $25.74.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CLDX. Wells Fargo & Company raised shares of Celldex Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 26th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $67.00 target price on shares of Celldex Therapeutics in a research note on Monday, September 16th. HC Wainwright reissued a "buy" rating and issued a $80.00 price target on shares of Celldex Therapeutics in a report on Thursday, November 7th. Citigroup began coverage on shares of Celldex Therapeutics in a report on Monday, October 7th. They issued a "buy" rating and a $70.00 price target on the stock. Finally, Wolfe Research lowered Celldex Therapeutics from an "outperform" rating to a "peer perform" rating in a research note on Friday, September 27th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $62.25.

Celldex Therapeutics Stock Down 8.5 %

The firm's 50-day moving average is $31.89 and its 200-day moving average is $35.43. The company has a market capitalization of $1.56 billion, a PE ratio of -9.16 and a beta of 1.60.

Insider Transactions at Celldex Therapeutics

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

Institutional Trading of Celldex Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Celldex Therapeutics by 631.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,087,208 shares of the biopharmaceutical company's stock valued at $129,571,000 after acquiring an additional 2,664,915 shares during the last quarter. Wellington Management Group LLP lifted its position in Celldex Therapeutics by 14.5% in 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 purchasing an additional 1,167,659 shares during the last quarter. Novo Holdings A S bought a new stake in Celldex Therapeutics in the second quarter valued at approximately $31,458,000. Point72 Asset Management L.P. boosted its stake in shares of 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 purchasing an additional 654,194 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Celldex Therapeutics by 19.8% in the first quarter. Vanguard Group Inc. now owns 3,650,582 shares of the biopharmaceutical company's stock worth $153,215,000 after purchasing an additional 604,251 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.