Celldex Therapeutics (NASDAQ:CLDX) Shares Gap Down to $41.99

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) gapped down before the market opened on Tuesday . The stock had previously closed at $41.99, but opened at $38.30. Celldex Therapeutics shares last traded at $37.91, with a volume of 141,555 shares changing hands.

Wall Street Analysts Forecast Growth

CLDX has been the subject of a number of recent analyst reports. Stifel Nicolaus initiated coverage on shares of Celldex Therapeutics in a research report on Tuesday, June 18th. They set a “buy” rating and a $58.00 price target for the company. Wolfe Research initiated coverage on shares of Celldex Therapeutics in a research report on Tuesday, June 11th. They set an “outperform” rating and a $51.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 price target on shares of Celldex Therapeutics in a research report on Tuesday. Finally, HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Celldex Therapeutics in a research report on Tuesday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.17.

Celldex Therapeutics Stock Down 1.5 %

The firm’s 50-day simple moving average is $36.76 and its 200-day simple moving average is $39.16. The firm has a market capitalization of $2.47 billion, a PE ratio of -13.37 and a beta of 1.58.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings data on Monday, May 6th. The biopharmaceutical company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.11. The firm had revenue of $0.16 million during the quarter, compared to the consensus estimate of $1.30 million. Celldex Therapeutics had a negative net margin of 2,385.57% and a negative return on equity of 29.55%. On average, equities research analysts forecast that Celldex Therapeutics, Inc. will post -2.39 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Samuel Bates Martin sold 17,172 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $35.42, for a total value of $608,232.24. Following the completion of the transaction, the chief financial officer now directly owns 28,125 shares of the company’s stock, valued at $996,187.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Elizabeth Crowley sold 30,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $34.87, for a total transaction of $1,046,100.00. Following the sale, the vice president now owns 9,074 shares in the company, valued at $316,410.38. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Samuel Bates Martin sold 17,172 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $35.42, for a total transaction of $608,232.24. Following the sale, the chief financial officer now owns 28,125 shares in the company, valued at approximately $996,187.50. The disclosure for this sale can be found here. Insiders sold a total of 266,332 shares of company stock valued at $9,155,821 over the last three months. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Celldex Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio raised its position in Celldex Therapeutics by 92.9% in the fourth quarter. Strs Ohio now owns 2,700 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 1,300 shares during the period. Headlands Technologies LLC bought a new position in Celldex Therapeutics in the first quarter worth approximately $147,000. CANADA LIFE ASSURANCE Co raised its position in Celldex Therapeutics by 26.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock worth $192,000 after acquiring an additional 955 shares during the period. Aigen Investment Management LP bought a new position in Celldex Therapeutics in the fourth quarter worth approximately $251,000. Finally, Panoramic Investment Advisors LLC bought a new position in Celldex Therapeutics in the fourth quarter worth approximately $258,000.

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.