Celldex Therapeutics (NASDAQ:CLDX) Shares Gap Down – Here’s What Happened

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $37.89, but opened at $36.60. Celldex Therapeutics shares last traded at $35.18, with a volume of 3,679,133 shares changing hands.

Analyst Ratings Changes

A number of research firms have weighed in on CLDX. Wells Fargo & Company upped their price target on shares of Celldex Therapeutics from $48.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Barclays raised their price objective on shares of Celldex Therapeutics from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Canaccord Genuity Group dropped their target price on shares of Celldex Therapeutics from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Guggenheim upped their target price on shares of Celldex Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Wall Street Zen upgraded Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Celldex Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.42.

Celldex Therapeutics Stock Performance

The company has a market capitalization of $2.61 billion, a PE ratio of -7.61 and a beta of 0.84. The stock has a fifty day moving average of $39.12 and a 200 day moving average of $34.81.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.12. The company had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.73 million. As a group, equities analysts predict that Celldex Therapeutics, Inc. will post -4.17 EPS for the current year.

Hedge Funds Weigh In On Celldex Therapeutics

Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in Celldex Therapeutics by 11.5% in the 2nd quarter. Wellington Management Group LLP now owns 9,543,671 shares of the biopharmaceutical company’s stock worth $355,120,000 after purchasing an additional 983,195 shares in the last quarter. Commodore Capital LP grew its position in shares of Celldex Therapeutics by 5.1% during the first quarter. Commodore Capital LP now owns 2,696,616 shares of the biopharmaceutical company’s stock valued at $85,537,000 after purchasing an additional 131,616 shares in the last quarter. Eversept Partners LP grew its position in shares of Celldex Therapeutics by 24.6% during the first quarter. Eversept Partners LP now owns 1,788,016 shares of the biopharmaceutical company’s stock valued at $56,716,000 after purchasing an additional 353,291 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Celldex Therapeutics by 62.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,059,534 shares of the biopharmaceutical company’s stock worth $33,596,000 after purchasing an additional 407,818 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Celldex Therapeutics by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 937,158 shares of the biopharmaceutical company’s stock worth $25,453,000 after purchasing an additional 10,001 shares during the last quarter.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based therapeutics for diseases with significant unmet medical needs. The company’s research programs address conditions in immunology, inflammation, oncology and other areas where targeted immune-system modulation may provide therapeutic benefits.

Celldex’s lead investigational product is barzolvolimab, an antibody designed to block the KIT receptor and reduce mast cells. The therapy is being studied in immune-mediated diseases, including chronic spontaneous urticaria and prurigo nodularis.