Eventide Asset Management LLC Sells 216,536 Shares of Celldex Therapeutics, Inc. $CLDX

Eventide Asset Management LLC decreased its position in Celldex Therapeutics, Inc. (NASDAQ:CLDX) by 11.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,642,559 shares of the biopharmaceutical company’s stock after selling 216,536 shares during the quarter. Eventide Asset Management LLC owned approximately 2.47% of Celldex Therapeutics worth $44,607,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CLDX. Vestal Point Capital LP raised its stake in shares of Celldex Therapeutics by 781.0% in the second quarter. Vestal Point Capital LP now owns 1,750,000 shares of the biopharmaceutical company’s stock worth $35,612,000 after buying an additional 1,551,354 shares during the period. Braidwell LP bought a new stake in Celldex Therapeutics during the 3rd quarter valued at approximately $15,307,000. Wellington Management Group LLP raised its stake in Celldex Therapeutics by 10.8% during the 3rd quarter. Wellington Management Group LLP now owns 5,800,003 shares of the biopharmaceutical company’s stock valued at $150,046,000 after purchasing an additional 567,677 shares during the period. State Street Corp grew its holdings in Celldex Therapeutics by 19.5% during the 4th quarter. State Street Corp now owns 3,397,713 shares of the biopharmaceutical company’s stock valued at $92,282,000 after buying an additional 555,579 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Celldex Therapeutics by 104.3% during the 3rd quarter. Millennium Management LLC now owns 975,195 shares of the biopharmaceutical company’s stock valued at $25,228,000 after buying an additional 497,968 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CLDX shares. Wells Fargo & Company lifted their target price on Celldex Therapeutics from $38.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Wall Street Zen upgraded Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Monday, April 20th. Wolfe Research raised Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Monday, March 23rd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $68.00 price target (up from $58.00) on shares of Celldex Therapeutics in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.30.

Celldex Therapeutics Stock Up 4.4%

Shares of CLDX opened at $31.27 on Friday. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -7.34 and a beta of 0.95. The stock’s 50-day moving average price is $31.88 and its 200-day moving average price is $28.83. Celldex Therapeutics, Inc. has a 52 week low of $19.52 and a 52 week high of $35.79.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.03). The business had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.80 million. As a group, equities analysts anticipate that Celldex Therapeutics, Inc. will post -4.36 EPS for the current fiscal year.

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.