Celldex Therapeutics (NASDAQ:CLDX) Shares Gap Down to $41.99

Celldex Therapeutics, Inc. (NASDAQ:CLDX) gapped down prior to trading on Tuesday . The stock had previously closed at $41.99, but opened at $38.30. Celldex Therapeutics shares last traded at $37.91, with a volume of 141,555 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CLDX shares. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a research note on Tuesday. Stifel Nicolaus assumed coverage on Celldex Therapeutics in a research note on Tuesday, June 18th. They set a “buy” rating and a $58.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Celldex Therapeutics in a research report on Tuesday. Finally, Wolfe Research assumed coverage on Celldex Therapeutics in a research report on Tuesday, June 11th. They set an “outperform” rating and a $51.00 price target for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Celldex Therapeutics has an average rating of “Moderate Buy” and an average target price of $62.17.

Celldex Therapeutics Price Performance

The firm has a market cap of $2.47 billion, a price-to-earnings ratio of -13.37 and a beta of 1.58. The company has a fifty day moving average price of $36.76 and a two-hundred day moving average price of $39.16.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings data 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. The business had revenue of $0.16 million during the quarter, compared to analyst estimates of $1.30 million. Celldex Therapeutics had a negative return on equity of 29.55% and a negative net margin of 2,385.57%. On average, research analysts expect that Celldex Therapeutics, Inc. will post -2.39 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Margo Heath-Chiozzi sold 38,719 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 7,094 shares of the company’s stock, valued at $241,692.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Samuel Bates Martin sold 35,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $34.05, for a total transaction of $1,191,750.00. Following the transaction, the chief financial officer now directly owns 25,128 shares of the company’s stock, valued at $855,608.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Margo Heath-Chiozzi sold 38,719 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $34.07, for a total value of $1,319,156.33. Following the transaction, the senior vice president now directly owns 7,094 shares in the company, valued at $241,692.58. The disclosure for this sale can be found here. Insiders sold a total of 266,332 shares of company stock valued at $9,155,821 over the last three months. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CLDX. Wellington Management Group LLP increased 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 worth $256,860,000 after purchasing an additional 1,044,728 shares during the last quarter. Vanguard Group Inc. increased its position in Celldex Therapeutics by 19.8% in the 1st quarter. Vanguard Group Inc. now owns 3,650,582 shares of the biopharmaceutical company’s stock worth $153,215,000 after purchasing an additional 604,251 shares during the last quarter. Eventide Asset Management LLC increased 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 worth $143,966,000 after purchasing an additional 2,030,013 shares during the last quarter. Price T Rowe Associates Inc. MD increased 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 worth $129,571,000 after purchasing an additional 2,664,915 shares during the last quarter. Finally, Bellevue Group AG increased its position in Celldex Therapeutics by 15.7% in the 1st quarter. Bellevue Group AG now owns 2,796,615 shares of the biopharmaceutical company’s stock worth $117,374,000 after purchasing an additional 380,319 shares during the last quarter.

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.