Celldex Therapeutics, Inc. (NASDAQ:CLDX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Celldex Therapeutics, Inc. (NASDAQ:CLDX) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $62.25.

CLDX has been the topic of a number of analyst reports. Wells Fargo & Company raised shares of Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 26th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Celldex Therapeutics in a report on Thursday, December 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 price objective on shares of Celldex Therapeutics in a report on Thursday. Citigroup initiated coverage on shares of Celldex Therapeutics in a research note on Monday, October 7th. They set a “buy” rating and a $70.00 target price on the stock. Finally, Wolfe Research lowered shares of Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 27th.

Celldex Therapeutics Stock Performance

CLDX stock opened at $26.81 on Friday. Celldex Therapeutics has a 1 year low of $22.93 and a 1 year high of $53.18. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -10.43 and a beta of 1.57. The stock’s fifty day moving average is $26.12 and its two-hundred day moving average is $32.70.

Insider Activity at Celldex Therapeutics

In related news, CEO Anthony S. Marucci acquired 11,500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $26.82 per share, for a total transaction of $308,430.00. Following the completion of the acquisition, the chief executive officer now owns 40,284 shares of the company’s stock, valued at $1,080,416.88. This trade represents a 39.95 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.80% of the stock is currently owned by company insiders.

Institutional Trading of Celldex Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Novo Holdings A S boosted its holdings in Celldex Therapeutics by 13.4% during the third quarter. Novo Holdings A S now owns 963,663 shares of the biopharmaceutical company’s stock worth $32,755,000 after purchasing an additional 113,663 shares during the last quarter. Jennison Associates LLC grew its stake in Celldex Therapeutics by 32.0% in the 3rd quarter. Jennison Associates LLC now owns 1,324,410 shares of the biopharmaceutical company’s stock valued at $45,017,000 after buying an additional 321,325 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Celldex Therapeutics by 51.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,937,991 shares of the biopharmaceutical company’s stock valued at $71,725,000 after buying an additional 654,194 shares in the last quarter. Bank of New York Mellon Corp increased its position in Celldex Therapeutics by 14.6% during the second quarter. Bank of New York Mellon Corp now owns 230,162 shares of the biopharmaceutical company’s stock worth $8,518,000 after acquiring an additional 29,324 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Celldex Therapeutics by 293.2% in the third quarter. BNP Paribas Financial Markets now owns 28,181 shares of the biopharmaceutical company’s stock valued at $958,000 after buying an additional 21,013 shares in 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.