Celldex Therapeutics (NASDAQ:CLDX) Trading Down 6% - What's Next?

Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report)'s share price was down 6% during mid-day trading on Tuesday . The stock traded as low as $26.26 and last traded at $26.30. Approximately 612,116 shares traded hands during trading, a decline of 28% from the average daily volume of 851,939 shares. The stock had previously closed at $27.97.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CLDX shares. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price objective on shares of Celldex Therapeutics in a research report on Monday. Wells Fargo & Company raised shares of Celldex Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 26th. Citigroup started coverage on Celldex Therapeutics in a report on Monday, October 7th. They issued a "buy" rating and a $70.00 price objective for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $67.00 price target on shares of Celldex Therapeutics in a report on Monday, September 16th. Finally, The Goldman Sachs Group began coverage on Celldex Therapeutics in a research report on Monday, September 30th. They set a "neutral" rating and a $45.00 price objective for the company. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $62.25.

Celldex Therapeutics Price Performance

The company has a market cap of $1.78 billion, a PE ratio of -9.80 and a beta of 1.55. The firm's 50 day moving average is $35.49 and its 200 day moving average is $36.49.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.05. Celldex Therapeutics had a negative net margin of 1,809.18% and a negative return on equity of 23.66%. The business had revenue of $2.50 million during the quarter, compared to analyst estimates of $1.13 million. As a group, analysts anticipate that Celldex Therapeutics, Inc. will post -2.5 EPS for the current year.

Institutional Trading of Celldex Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CLDX. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Celldex Therapeutics during the second quarter valued at approximately $76,000. Headlands Technologies LLC purchased a new stake in Celldex Therapeutics in the first quarter worth about $147,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Celldex Therapeutics by 26.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company's stock valued at $192,000 after purchasing an additional 955 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Celldex Therapeutics by 34.3% during the first quarter. Ameritas Investment Partners Inc. now owns 6,198 shares of the biopharmaceutical company's stock valued at $260,000 after purchasing an additional 1,582 shares during the last quarter. Finally, Quest Partners LLC boosted its position in shares of Celldex Therapeutics by 1,364.9% in the 2nd quarter. Quest Partners LLC now owns 7,383 shares of the biopharmaceutical company's stock worth $273,000 after purchasing an additional 6,879 shares in the last quarter.

Celldex Therapeutics Company Profile

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.