Celldex Therapeutics (NASDAQ:CLDX) Shares Down 6.5% – Here’s What Happened

Celldex Therapeutics, Inc. (NASDAQ:CLDX) traded down 6.5% during trading on Tuesday . The company traded as low as $17.24 and last traded at $16.97. 47,895 shares traded hands during 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

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

Celldex Therapeutics Stock Performance

The firm has a 50-day moving average price of $21.49 and a 200 day moving average price of $25.81. The stock has a market capitalization of $1.15 billion, a P/E ratio of -6.76 and a beta of 1.76.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.71) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.02. Celldex Therapeutics had a negative net margin of 1,544.32% and a negative return on equity of 19.75%. The business had revenue of $1.18 million for the quarter, compared to analysts’ expectations of $1.25 million. On average, equities analysts anticipate that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in Celldex Therapeutics by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 538,856 shares of the biopharmaceutical company’s stock worth $18,316,000 after acquiring an additional 8,413 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Celldex Therapeutics by 293.2% during the third quarter. BNP Paribas Financial Markets now owns 28,181 shares of the biopharmaceutical company’s stock valued at $958,000 after purchasing an additional 21,013 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Celldex Therapeutics by 6.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 102,595 shares of the biopharmaceutical company’s stock worth $3,487,000 after purchasing an additional 6,269 shares during the last quarter. Point72 DIFC Ltd increased its stake in shares of Celldex Therapeutics by 101.7% in the third quarter. Point72 DIFC Ltd now owns 14,114 shares of the biopharmaceutical company’s stock worth $480,000 after buying an additional 7,116 shares during the period. Finally, Readystate Asset Management LP bought a new stake in Celldex Therapeutics during the 3rd quarter valued at $6,102,000.

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.