PSP Research LLC Invests $553,000 in Celldex Therapeutics, Inc. $CLDX

PSP Research LLC purchased a new position in shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,368 shares of the biopharmaceutical company’s stock, valued at approximately $553,000. Celldex Therapeutics comprises about 0.5% of PSP Research LLC’s portfolio, making the stock its 7th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new position in Celldex Therapeutics in the 3rd quarter valued at about $26,000. Wilmington Savings Fund Society FSB bought a new position in Celldex Therapeutics in the 3rd quarter valued at about $42,000. Russell Investments Group Ltd. grew its position in Celldex Therapeutics by 27.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 501 shares in the last quarter. Quantbot Technologies LP bought a new position in Celldex Therapeutics in the 3rd quarter valued at about $63,000. Finally, Strs Ohio bought a new position in Celldex Therapeutics in the 3rd quarter valued at about $75,000.

Celldex Therapeutics Trading Down 0.2%

Shares of NASDAQ CLDX opened at $30.15 on Wednesday. Celldex Therapeutics, Inc. has a twelve month low of $18.55 and a twelve month high of $35.79. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of -7.08 and a beta of 0.98. The firm has a 50-day moving average of $32.01 and a two-hundred day moving average of $28.15.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.03). The business had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.80 million. As a group, research analysts predict that Celldex Therapeutics, Inc. will post -4.45 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on CLDX. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 target price (up from $58.00) on shares of Celldex Therapeutics in a research report on Thursday, February 26th. Barclays increased their target price on shares of Celldex Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Monday, April 20th. Wall Street Zen raised shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Wells Fargo & Company upped their price target on shares of Celldex Therapeutics from $38.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.78.

Celldex Therapeutics Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted immunotherapies for cancer and other serious diseases. The company’s research platforms leverage novel antibody and vaccine technologies designed to engage the patient’s immune system, with a particular emphasis on oncology and neurologic indications. Celldex’s pipeline includes both monoclonal antibodies and biologic agents that seek to modulate immune responses or deliver targeted cytotoxic activity.

Among Celldex’s lead product candidates is glembatumumab vedotin, an antibody–drug conjugate directed against the glycoprotein NMB (gpNMB) for the treatment of certain breast and skin cancers.