Celldex Therapeutics, Inc. (NASDAQ:CLDX) Sees Large Increase in Short Interest

Celldex Therapeutics, Inc. (NASDAQ:CLDX) was the target of a large growth in short interest in June. As of June 30th, there was short interest totalling 6,990,000 shares, a growth of 8.7% from the June 15th total of 6,430,000 shares. Based on an average trading volume of 638,600 shares, the days-to-cover ratio is currently 10.9 days.

Celldex Therapeutics Trading Down 3.0 %

CLDX traded down $1.20 during trading on Wednesday, hitting $38.78. The company’s stock had a trading volume of 540,883 shares, compared to its average volume of 787,414. The firm’s 50 day moving average price is $36.74 and its 200-day moving average price is $39.20. Celldex Therapeutics has a twelve month low of $22.11 and a twelve month high of $53.18.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings data on Monday, May 6th. The biopharmaceutical company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.11. The business had revenue of $0.16 million during the quarter, compared to the consensus estimate of $1.30 million. Celldex Therapeutics had a negative return on equity of 29.55% and a negative net margin of 2,385.57%. As a group, analysts forecast that Celldex Therapeutics will post -2.39 EPS for the current year.

Wall Street Analyst Weigh In

CLDX has been the subject of several research reports. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a research report on Tuesday, June 18th. Wolfe Research initiated coverage on Celldex Therapeutics in a research report on Tuesday, June 11th. They set an “outperform” rating and a $51.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Celldex Therapeutics in a research report on Tuesday. Finally, Stifel Nicolaus began coverage on Celldex Therapeutics in a research report on Tuesday, June 18th. They set a “buy” rating and a $58.00 price objective for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Celldex Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $62.17.

Insider Transactions at Celldex Therapeutics

In other news, SVP Diane C. Young sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $35.26, for a total transaction of $1,586,700.00. Following the sale, the senior vice president now owns 2,115 shares of the company’s stock, valued at approximately $74,574.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Diane C. Young sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $35.26, for a total transaction of $1,586,700.00. Following the sale, the senior vice president now owns 2,115 shares of the company’s stock, valued at approximately $74,574.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Margo Heath-Chiozzi sold 38,719 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $34.07, for a total value of $1,319,156.33. Following the sale, the senior vice president now directly owns 7,094 shares in the company, valued at approximately $241,692.58. The disclosure for this sale can be found here. Insiders have sold 266,332 shares of company stock valued at $9,155,821 in the last quarter. 3.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Celldex Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CLDX. Strs Ohio increased its holdings in shares of Celldex Therapeutics by 92.9% during the 4th quarter. Strs Ohio now owns 2,700 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 1,300 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Celldex Therapeutics during the 1st quarter worth $147,000. CANADA LIFE ASSURANCE Co boosted its position in Celldex Therapeutics by 26.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock worth $192,000 after purchasing an additional 955 shares during the period. Aigen Investment Management LP purchased a new stake in Celldex Therapeutics during the 4th quarter worth $251,000. Finally, Panoramic Investment Advisors LLC purchased a new stake in Celldex Therapeutics during the 4th quarter worth $258,000.

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.