Celldex Therapeutics (NASDAQ:CLDX) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Celldex Therapeutics (NASDAQ:CLDX) released its earnings results on Thursday. The biopharmaceutical company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.03), FiscalAI reports. The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.80 million.

Celldex Therapeutics Price Performance

Shares of Celldex Therapeutics stock traded up $0.65 during trading on Friday, hitting $33.97. 794,142 shares of the company were exchanged, compared to its average volume of 765,234. Celldex Therapeutics has a 1-year low of $18.20 and a 1-year high of $35.79. The firm has a market capitalization of $2.67 billion, a P/E ratio of -7.97 and a beta of 0.98. The firm’s fifty day moving average price is $31.69 and its 200 day moving average price is $27.87.

Hedge Funds Weigh In On Celldex Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CLDX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Celldex Therapeutics by 1.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock valued at $798,000 after purchasing an additional 680 shares during the period. Millennium Management LLC grew its position in shares of Celldex Therapeutics by 327.3% in the 1st quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company’s stock valued at $7,259,000 after purchasing an additional 306,330 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Celldex Therapeutics by 12.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,296 shares of the biopharmaceutical company’s stock worth $2,383,000 after purchasing an additional 14,979 shares during the period. Russell Investments Group Ltd. boosted its stake 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 worth $47,000 after purchasing an additional 501 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in Celldex Therapeutics in the 2nd quarter worth $347,000.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Monday, April 20th. Wall Street Zen upgraded shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday. Wolfe Research upgraded shares of Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a report on Monday, March 23rd. Barclays boosted their price objective on Celldex Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday. Finally, The Goldman Sachs Group boosted their price objective on Celldex Therapeutics from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

About Celldex Therapeutics

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.