Celldex Therapeutics (NASDAQ:CLDX) Upgraded to “Sell” at Wall Street Zen

Celldex Therapeutics (NASDAQ:CLDX) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Sunday.

Several other research analysts have also recently issued reports on CLDX. HC Wainwright reissued a “buy” rating and set a $42.00 price target on shares of Celldex Therapeutics in a report on Monday, June 15th. Wolfe Research raised 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. UBS Group boosted their target price on Celldex Therapeutics from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Barclays increased their target price on Celldex Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Wells Fargo & Company raised their price target on 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, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Celldex Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $49.30.

Celldex Therapeutics Stock Performance

CLDX traded up $0.13 during trading on Friday, hitting $39.11. The stock had a trading volume of 694,010 shares, compared to its average volume of 1,288,631. The firm has a market capitalization of $3.07 billion, a P/E ratio of -9.18 and a beta of 0.90. The company’s 50-day moving average price is $32.98 and its 200 day moving average price is $30.02. Celldex Therapeutics has a twelve month low of $19.72 and a twelve month high of $40.30.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.03). The firm had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.80 million. As a group, equities analysts expect that Celldex Therapeutics will post -4.36 earnings per share for the current fiscal year.

Institutional Trading of Celldex Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new stake in Celldex Therapeutics during the third quarter worth about $42,000. Russell Investments Group Ltd. increased its holdings in Celldex Therapeutics by 27.6% in the second 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 purchased a new position in Celldex Therapeutics in the third quarter valued at about $63,000. Kestra Advisory Services LLC acquired a new stake in shares of Celldex Therapeutics during the 4th quarter valued at approximately $98,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Celldex Therapeutics in the 3rd quarter worth approximately $139,000.

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.