Celldex Therapeutics (NASDAQ:CLDX) Stock Price Down 6.5% - Here's Why

Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) traded down 6.5% during trading on Tuesday . The stock traded as low as $17.24 and last traded at $16.97. 47,895 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 862,677 shares. The stock had previously closed at $18.15.

Wall Street Analysts Forecast Growth

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

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Celldex Therapeutics Trading Down 8.0 %

The business's 50-day simple moving average is $21.18 and its 200 day simple moving average is $25.45. The company has a market capitalization of $1.05 billion, a P/E ratio of -6.14 and a beta of 1.59.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.71) EPS 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 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, sell-side analysts predict that Celldex Therapeutics, Inc. will post -2.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in Celldex Therapeutics by 215.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,285 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 878 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Celldex Therapeutics in the 4th quarter worth approximately $81,000. KBC Group NV lifted its stake in Celldex Therapeutics by 79.1% during the fourth quarter. KBC Group NV now owns 3,728 shares of the biopharmaceutical company's stock valued at $94,000 after purchasing an additional 1,647 shares during the last quarter. AlphaQuest LLC boosted its holdings in Celldex Therapeutics by 171.0% during the fourth quarter. AlphaQuest LLC now owns 4,287 shares of the biopharmaceutical company's stock worth $108,000 after buying an additional 2,705 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new position in Celldex Therapeutics in the fourth quarter worth approximately $121,000.

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.