Celldex Therapeutics (NASDAQ:CLDX) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Celldex Therapeutics (NASDAQ:CLDX) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.94) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.12, FiscalAI reports. The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.73 million.

Celldex Therapeutics Trading Up 0.4%

Shares of Celldex Therapeutics stock traded up $0.15 during trading on Friday, hitting $41.71. 808,912 shares of the stock were exchanged, compared to its average volume of 954,386. The company has a fifty day moving average price of $35.19 and a 200-day moving average price of $31.54. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of -9.59 and a beta of 0.87. Celldex Therapeutics has a 1-year low of $19.72 and a 1-year high of $42.92.

Institutional Trading of Celldex Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP raised its stake in Celldex Therapeutics by 39.3% in the 4th quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company’s stock valued at $219,442,000 after acquiring an additional 2,279,605 shares during the period. Bellevue Group AG lifted its position in Celldex Therapeutics by 7.6% during the third quarter. Bellevue Group AG now owns 3,557,669 shares of the biopharmaceutical company’s stock worth $92,037,000 after acquiring an additional 250,100 shares during the last quarter. Commodore Capital LP boosted its holdings in shares of Celldex Therapeutics by 7.8% during the second quarter. Commodore Capital LP now owns 3,450,000 shares of the biopharmaceutical company’s stock worth $70,208,000 after acquiring an additional 250,000 shares during the period. State Street Corp grew its position in shares of Celldex Therapeutics by 19.5% in the fourth quarter. State Street Corp now owns 3,397,713 shares of the biopharmaceutical company’s stock valued at $92,282,000 after purchasing an additional 555,579 shares during the last quarter. Finally, Braidwell LP increased its stake in shares of Celldex Therapeutics by 214.0% during the fourth quarter. Braidwell LP now owns 1,858,109 shares of the biopharmaceutical company’s stock worth $50,466,000 after purchasing an additional 1,266,420 shares during the period.

Wall Street Analyst Weigh In

CLDX has been the subject of several recent research reports. Guggenheim upped their price objective on Celldex Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Barclays raised their price target on shares of Celldex Therapeutics from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday. UBS Group boosted their price objective on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Canaccord Genuity Group lowered their price target on shares of Celldex Therapeutics from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Celldex Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $55.46.

Celldex Therapeutics Company 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.