Celldex Therapeutics (NASDAQ:CLDX) Shares Down 5.5% – Here’s Why

Celldex Therapeutics, Inc. (NASDAQ:CLDX) shares traded down 5.5% during mid-day trading on Friday . The stock traded as low as $24.99 and last traded at $24.99. 387,690 shares were traded during mid-day trading, a decline of 56% from the average session volume of 885,998 shares. The stock had previously closed at $26.45.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CLDX shares. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a report on Monday, September 16th. Citigroup started coverage on Celldex Therapeutics in a research note on Monday, October 7th. They issued a “buy” rating and a $70.00 price target for the company. Wolfe Research cut Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 27th. The Goldman Sachs Group initiated coverage on Celldex Therapeutics in a report on Monday, September 30th. They set a “neutral” rating and a $45.00 target price on the stock. Finally, Wells Fargo & Company upgraded Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 26th. 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.25.

Celldex Therapeutics Trading Down 3.9 %

The business has a 50-day moving average price of $27.28 and a two-hundred day moving average price of $33.65.

Insider Buying and Selling

In other news, CEO Anthony S. Marucci acquired 11,500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average cost of $26.82 per share, for a total transaction of $308,430.00. Following the transaction, the chief executive officer now directly owns 40,284 shares in the company, valued at $1,080,416.88. This trade represents a 39.95 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Celldex Therapeutics

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Celldex Therapeutics by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 9,243,599 shares of the biopharmaceutical company’s stock worth $314,190,000 after buying an additional 1,167,659 shares in the last quarter. Novo Holdings A S acquired a new position in Celldex Therapeutics during the 2nd quarter worth $31,458,000. Point72 Asset Management L.P. grew its stake in shares of Celldex Therapeutics by 51.0% in the second quarter. Point72 Asset Management L.P. now owns 1,937,991 shares of the biopharmaceutical company’s stock worth $71,725,000 after purchasing an additional 654,194 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Celldex Therapeutics by 53.3% during the second quarter. Marshall Wace LLP now owns 1,377,868 shares of the biopharmaceutical company’s stock valued at $50,995,000 after purchasing an additional 479,068 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Celldex Therapeutics by 32.0% during the third quarter. Jennison Associates LLC now owns 1,324,410 shares of the biopharmaceutical company’s stock valued at $45,017,000 after purchasing an additional 321,325 shares in 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.