Short Interest in Celldex Therapeutics, Inc. (NASDAQ:CLDX) Drops By 5.3%

Celldex Therapeutics, Inc. (NASDAQ:CLDX) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 6,270,000 shares, a drop of 5.3% from the May 15th total of 6,620,000 shares. Based on an average daily volume of 691,800 shares, the days-to-cover ratio is currently 9.1 days.

Insider Activity at Celldex Therapeutics

In related news, SVP Margo Heath-Chiozzi sold 38,719 shares of Celldex Therapeutics stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $34.07, for a total transaction of $1,319,156.33. Following the sale, the senior vice president now owns 7,094 shares of the company’s stock, valued at approximately $241,692.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Margo Heath-Chiozzi sold 38,719 shares of Celldex Therapeutics stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $34.07, for a total transaction of $1,319,156.33. Following the sale, the senior vice president now owns 7,094 shares of the company’s stock, valued at approximately $241,692.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Elizabeth Crowley sold 38,597 shares of Celldex Therapeutics stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $33.64, for a total value of $1,298,403.08. Following the sale, the vice president now directly owns 9,074 shares in the company, valued at approximately $305,249.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 266,332 shares of company stock valued at $9,155,821. 3.80% of the stock is owned by company insiders.

Institutional Trading of Celldex Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in Celldex Therapeutics by 631.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,087,208 shares of the biopharmaceutical company’s stock valued at $129,571,000 after acquiring an additional 2,664,915 shares during the last quarter. Eventide Asset Management LLC grew its position in Celldex Therapeutics by 126.9% in the 4th quarter. Eventide Asset Management LLC now owns 3,630,013 shares of the biopharmaceutical company’s stock valued at $143,966,000 after acquiring an additional 2,030,013 shares during the last quarter. Point72 Asset Management L.P. grew its position in Celldex Therapeutics by 105.3% in the 4th quarter. Point72 Asset Management L.P. now owns 2,756,122 shares of the biopharmaceutical company’s stock valued at $109,308,000 after acquiring an additional 1,413,722 shares during the last quarter. Wellington Management Group LLP grew its position in Celldex Therapeutics by 19.2% in the 4th quarter. Wellington Management Group LLP now owns 6,476,561 shares of the biopharmaceutical company’s stock valued at $256,860,000 after acquiring an additional 1,044,728 shares during the last quarter. Finally, Jennison Associates LLC grew its position in Celldex Therapeutics by 3,327.0% in the 1st quarter. Jennison Associates LLC now owns 688,080 shares of the biopharmaceutical company’s stock valued at $28,879,000 after acquiring an additional 668,002 shares during the last quarter.

Celldex Therapeutics Stock Performance

NASDAQ:CLDX opened at $34.66 on Thursday. The stock’s fifty day moving average is $37.45 and its 200 day moving average is $39.03. Celldex Therapeutics has a fifty-two week low of $22.11 and a fifty-two week high of $53.18. The firm has a market capitalization of $2.28 billion, a PE ratio of -12.16 and a beta of 1.47.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Monday, May 6th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.11. Celldex Therapeutics had a negative return on equity of 29.55% and a negative net margin of 2,385.57%. The company had revenue of $0.16 million for the quarter, compared to analyst estimates of $1.30 million. Equities analysts forecast that Celldex Therapeutics will post -2.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Celldex Therapeutics in a report on Monday, June 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a report on Tuesday. Stifel Nicolaus assumed coverage on Celldex Therapeutics in a report on Tuesday. They set a “buy” rating and a $58.00 price objective on the stock. Wolfe Research assumed coverage on Celldex Therapeutics in a report on Tuesday, June 11th. They set an “outperform” rating and a $51.00 price objective on the stock. Finally, Guggenheim upped their price objective on Celldex Therapeutics from $72.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.17.

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.