Celldex Therapeutics (NASDAQ:CLDX) Sees Unusually-High Trading Volume – Here’s Why

Celldex Therapeutics, Inc. (NASDAQ:CLDX) shares saw strong trading volume on Thursday . 2,066,666 shares traded hands during trading, an increase of 136% from the previous session’s volume of 877,253 shares.The stock last traded at $30.8810 and had previously closed at $31.26.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. 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. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 price target (up from $58.00) on shares of Celldex Therapeutics in a report on Thursday, February 26th. The Goldman Sachs Group upped their price objective on Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Barclays increased their price objective on Celldex Therapeutics from $21.00 to $24.00 and gave the company an “underweight” rating in a report on Wednesday, December 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $44.45.

Celldex Therapeutics Stock Performance

The stock’s 50-day moving average is $27.50 and its 200 day moving average is $26.65. The stock has a market capitalization of $2.02 billion, a PE ratio of -7.79 and a beta of 1.19.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.22). The business had revenue of $0.12 million for the quarter, compared to the consensus estimate of $1.53 million. Analysts expect that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current year.

Institutional Investors Weigh In On Celldex Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Celldex Therapeutics by 1.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock worth $798,000 after purchasing an additional 680 shares during the period. Millennium Management LLC raised its holdings in Celldex Therapeutics by 327.3% during the first quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company’s stock worth $7,259,000 after purchasing an additional 306,330 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of 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 valued at $2,383,000 after buying an additional 14,979 shares during the period. Creative Planning boosted its stake in shares of Celldex Therapeutics by 26.3% in the second quarter. Creative Planning now owns 29,902 shares of the biopharmaceutical company’s stock valued at $609,000 after buying an additional 6,233 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Celldex Therapeutics by 11.0% in the second quarter. Legal & General Group Plc now owns 71,190 shares of the biopharmaceutical company’s stock valued at $1,449,000 after buying an additional 7,049 shares in the last quarter.

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.