Wolfe Research Lowers Celldex Therapeutics (NASDAQ:CLDX) to Peer Perform

Wolfe Research downgraded shares of Celldex Therapeutics (NASDAQ:CLDX) from an outperform rating to a peer perform rating in a report released on Friday morning, MarketBeat reports.

Several other research analysts have also recently commented on the stock. Cantor Fitzgerald reiterated an overweight rating and issued a $67.00 target price on shares of Celldex Therapeutics in a report on Monday, September 16th. Stifel Nicolaus began coverage on Celldex Therapeutics in a report on Tuesday, June 18th. They issued a buy rating and a $58.00 target price for the company. HC Wainwright reiterated a buy rating and set a $80.00 price target on shares of Celldex Therapeutics in a report on Thursday, September 26th. Finally, Wells Fargo & Company raised Celldex Therapeutics from a hold rating to a strong-buy rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Celldex Therapeutics presently has an average rating of Moderate Buy and an average price target of $61.14.

Celldex Therapeutics Stock Performance

Shares of NASDAQ:CLDX opened at $33.99 on Friday. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -11.75 and a beta of 1.56. Celldex Therapeutics has a 1-year low of $22.11 and a 1-year high of $53.18. The company has a 50 day moving average price of $38.35 and a 200 day moving average price of $38.24.

Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.05. Celldex Therapeutics had a negative return on equity of 23.66% and a negative net margin of 1,809.18%. The business had revenue of $2.50 million for the quarter, compared to analysts’ expectations of $1.13 million. On average, sell-side analysts expect that Celldex Therapeutics will post -2.5 EPS for the current fiscal year.

Institutional Trading of Celldex Therapeutics

Institutional investors have recently bought and sold shares of the company. UBS Group AG lifted its stake in Celldex Therapeutics by 645.9% in the fourth quarter. UBS Group AG now owns 158,092 shares of the biopharmaceutical company’s stock valued at $6,270,000 after acquiring an additional 136,897 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in Celldex Therapeutics during the fourth quarter valued at about $502,000. Crestline Management LP lifted its position in shares of Celldex Therapeutics by 6.5% in the fourth quarter. Crestline Management LP now owns 67,243 shares of the biopharmaceutical company’s stock worth $2,667,000 after buying an additional 4,133 shares during the last quarter. NEOS Investment Management LLC bought a new stake in shares of Celldex Therapeutics during the 4th quarter worth about $458,000. Finally, Affinity Asset Advisors LLC increased its holdings in shares of Celldex Therapeutics by 166.7% during the 4th quarter. Affinity Asset Advisors LLC now owns 400,000 shares of the biopharmaceutical company’s stock valued at $15,864,000 after acquiring an additional 250,000 shares during the last quarter.

About Celldex Therapeutics

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.