SummitTX Capital L.P. Boosts Stock Position in Celldex Therapeutics, Inc. $CLDX

SummitTX Capital L.P. increased its holdings in Celldex Therapeutics, Inc. (NASDAQ:CLDX) by 446.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 236,637 shares of the biopharmaceutical company’s stock after purchasing an additional 193,313 shares during the period. SummitTX Capital L.P. owned 0.30% of Celldex Therapeutics worth $7,506,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Celldex Therapeutics during the 3rd quarter valued at approximately $42,000. Russell Investments Group Ltd. grew its holdings in shares of 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 purchasing an additional 501 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Celldex Therapeutics in the third quarter valued at $63,000. Kestra Advisory Services LLC purchased a new position in shares of Celldex Therapeutics in the fourth quarter valued at $98,000. Finally, Headlands Technologies LLC bought a new stake in Celldex Therapeutics in the second quarter worth $125,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Friday, July 17th. Wells Fargo & Company reduced their target price on shares of Celldex Therapeutics from $54.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. UBS Group boosted their target price on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Barclays increased their price target on shares of Celldex Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Guggenheim lifted their price target on Celldex Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.77.

Celldex Therapeutics Price Performance

CLDX stock opened at $35.28 on Monday. Celldex Therapeutics, Inc. has a twelve month low of $19.72 and a twelve month high of $40.30. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -8.28 and a beta of 0.90. The firm’s fifty day simple moving average is $33.64 and its two-hundred day simple moving average is $30.71.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share (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 analysts’ expectations of $0.80 million. As a group, equities research analysts expect that Celldex Therapeutics, Inc. will post -4.36 EPS for the current year.

Celldex Therapeutics 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.