Celldex Therapeutics (NASDAQ:CLDX) Shares Gap Up – Here’s Why

Celldex Therapeutics, Inc. (NASDAQ:CLDX) gapped up before the market opened on Wednesday . The stock had previously closed at $27.60, but opened at $28.75. Celldex Therapeutics shares last traded at $27.28, with a volume of 216,928 shares traded.

Analysts Set New Price Targets

Several research firms recently issued reports on CLDX. The Goldman Sachs Group initiated coverage on shares of Celldex Therapeutics in a research note on Monday, September 30th. They set a “neutral” rating and a $45.00 price target on the stock. Wells Fargo & Company raised Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 26th. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Celldex Therapeutics in a report on Thursday, December 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 target price on shares of Celldex Therapeutics in a research report on Thursday, January 2nd. Finally, Citigroup assumed coverage on shares of Celldex Therapeutics in a research report on Monday, October 7th. They set a “buy” rating and a $70.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.25.

Celldex Therapeutics Trading Up 2.6 %

The company has a 50-day moving average of $26.11 and a 200-day moving average of $32.56. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -11.02 and a beta of 1.62.

Insiders Place Their Bets

In other news, CEO Anthony S. Marucci bought 11,500 shares of Celldex Therapeutics stock in a transaction on Monday, November 11th. The stock was purchased at an average cost of $26.82 per share, with a total value of $308,430.00. Following the purchase, the chief executive officer now directly owns 40,284 shares of the company’s stock, valued at approximately $1,080,416.88. This trade represents a 39.95 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Celldex Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLDX. Novo Holdings A S grew its stake in shares of Celldex Therapeutics by 13.4% in the third quarter. Novo Holdings A S now owns 963,663 shares of the biopharmaceutical company’s stock worth $32,755,000 after purchasing an additional 113,663 shares in the last quarter. Jennison Associates LLC grew its position in Celldex Therapeutics by 32.0% in the 3rd quarter. Jennison Associates LLC now owns 1,324,410 shares of the biopharmaceutical company’s stock valued at $45,017,000 after buying an additional 321,325 shares in the last quarter. Point72 Asset Management L.P. grew its position in Celldex Therapeutics by 51.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,937,991 shares of the biopharmaceutical company’s stock valued at $71,725,000 after buying an additional 654,194 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Celldex Therapeutics by 14.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 230,162 shares of the biopharmaceutical company’s stock valued at $8,518,000 after buying an additional 29,324 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Celldex Therapeutics by 293.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 28,181 shares of the biopharmaceutical company’s stock worth $958,000 after buying an additional 21,013 shares in the last quarter.

Celldex Therapeutics Company Profile

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.