Celldex Therapeutics (NASDAQ:CLDX) Trading Down 5.1% – Time to Sell?

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) dropped 5.1% during mid-day trading on Tuesday . The stock traded as low as $26.53 and last traded at $26.70. Approximately 195,982 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 873,433 shares. The stock had previously closed at $28.14.

Analyst Ratings Changes

A number of analysts have weighed in on CLDX shares. HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Celldex Therapeutics in a report on Wednesday, November 20th. Wolfe Research lowered Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 27th. Wells Fargo & Company upgraded shares of Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 26th. The Goldman Sachs Group began coverage on shares of Celldex Therapeutics in a report on Monday, September 30th. They set a “neutral” rating and a $45.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 target price on shares of Celldex Therapeutics in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

Celldex Therapeutics Price Performance

The company has a fifty day moving average price of $29.92 and a 200 day moving average price of $34.74. The company has a market cap of $1.81 billion, a PE ratio of -10.95 and a beta of 1.60.

Insider Activity

In related news, CEO Anthony S. Marucci bought 11,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average cost of $26.82 per share, for a total transaction of $308,430.00. Following the acquisition, the chief executive officer now directly owns 40,284 shares of the company’s stock, valued at $1,080,416.88. The trade was a 39.95 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Celldex Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in Celldex Therapeutics during the 2nd quarter valued at $76,000. KBC Group NV raised its stake in shares of Celldex Therapeutics by 31.2% during the third quarter. KBC Group NV now owns 2,081 shares of the biopharmaceutical company’s stock valued at $71,000 after acquiring an additional 495 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings 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 worth $192,000 after purchasing an additional 955 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of Celldex Therapeutics by 9.5% in the second quarter. Los Angeles Capital Management LLC now owns 7,371 shares of the biopharmaceutical company’s stock worth $273,000 after purchasing an additional 638 shares during the last quarter. Finally, Quest Partners LLC raised its position in Celldex Therapeutics by 1,364.9% during the 2nd quarter. Quest Partners LLC now owns 7,383 shares of the biopharmaceutical company’s stock valued at $273,000 after purchasing an additional 6,879 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.