Redmile Group LLC Cuts Position in Celldex Therapeutics, Inc. (NASDAQ:CLDX)

Redmile Group LLC reduced its stake in shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) by 6.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 615,775 shares of the biopharmaceutical company’s stock after selling 41,400 shares during the period. Celldex Therapeutics makes up 1.1% of Redmile Group LLC’s holdings, making the stock its 27th biggest holding. Redmile Group LLC’s holdings in Celldex Therapeutics were worth $15,561,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. lifted its holdings in Celldex Therapeutics by 50.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,515,972 shares of the biopharmaceutical company’s stock worth $63,579,000 after buying an additional 847,264 shares during the last quarter. Polar Asset Management Partners Inc. grew its holdings in Celldex Therapeutics by 1,318.0% in the 4th quarter. Polar Asset Management Partners Inc. now owns 137,550 shares of the biopharmaceutical company’s stock worth $3,476,000 after buying an additional 127,850 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Celldex Therapeutics by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 18,192 shares of the biopharmaceutical company’s stock valued at $460,000 after purchasing an additional 5,986 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Celldex Therapeutics by 9.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,771 shares of the biopharmaceutical company’s stock worth $1,080,000 after acquiring an additional 3,830 shares during the period. Finally, Deutsche Bank AG raised its holdings in Celldex Therapeutics by 207.9% during the fourth quarter. Deutsche Bank AG now owns 121,501 shares of the biopharmaceutical company’s stock worth $3,070,000 after purchasing an additional 82,042 shares in the last quarter.

Analyst Ratings Changes

Several analysts have recently weighed in on CLDX shares. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Celldex Therapeutics in a report on Tuesday, May 6th. The Goldman Sachs Group reduced their price objective on Celldex Therapeutics from $36.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Morgan Stanley decreased their price target on Celldex Therapeutics from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Canaccord Genuity Group assumed coverage on shares of Celldex Therapeutics in a research report on Monday, April 28th. They issued a “buy” rating and a $64.00 target price on the stock. Finally, UBS Group decreased their price objective on Celldex Therapeutics from $44.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.90.

Celldex Therapeutics Price Performance

Celldex Therapeutics stock opened at $18.94 on Thursday. The firm has a fifty day moving average price of $18.90 and a two-hundred day moving average price of $22.70. Celldex Therapeutics, Inc. has a fifty-two week low of $14.40 and a fifty-two week high of $47.00. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -7.37 and a beta of 1.39.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.06). Celldex Therapeutics had a negative return on equity of 19.75% and a negative net margin of 1,544.32%. The firm had revenue of $0.70 million for the quarter, compared to analyst estimates of $1.08 million. As a group, sell-side analysts expect that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current year.

Celldex Therapeutics 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.