Celldex Therapeutics (NASDAQ:CLDX) Reaches New 12-Month Low – Time to Sell?

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $24.88 and last traded at $25.16, with a volume of 198268 shares changing hands. The stock had previously closed at $25.39.

Analyst Upgrades and Downgrades

CLDX has been the subject of a number of recent analyst reports. Wells Fargo & Company raised shares of Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 26th. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 target price on shares of Celldex Therapeutics in a research report on Monday, September 16th. Wolfe Research downgraded shares of Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 27th. The Goldman Sachs Group initiated coverage on shares of Celldex Therapeutics in a research report on Monday, September 30th. They set a “neutral” rating and a $45.00 target price for the company. Finally, Citigroup initiated coverage on shares of Celldex Therapeutics in a research report on Monday, October 7th. They set a “buy” rating and a $70.00 target price for the company. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Celldex Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $62.25.

Celldex Therapeutics Trading Down 0.5 %

The company has a market cap of $1.68 billion, a price-to-earnings ratio of -9.27 and a beta of 1.60. The firm’s 50-day moving average price is $34.64 and its 200 day moving average price is $36.12.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.05. Celldex Therapeutics had a negative net margin of 1,809.18% and a negative return on equity of 23.66%. The company had revenue of $2.50 million during the quarter, compared to the consensus estimate of $1.13 million. Analysts forecast that Celldex Therapeutics, Inc. will post -2.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of large investors have recently modified their holdings of CLDX. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 in the last quarter. Novo Holdings A S bought a new position in shares of Celldex Therapeutics in the 2nd quarter worth $31,458,000. Jennison Associates LLC lifted its holdings in shares of Celldex Therapeutics by 3,327.0% in the 1st quarter. Jennison Associates LLC now owns 688,080 shares of the biopharmaceutical company’s stock worth $28,879,000 after purchasing an additional 668,002 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of 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 worth $71,725,000 after purchasing an additional 654,194 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Celldex Therapeutics by 19.8% during the 1st quarter. Vanguard Group Inc. now owns 3,650,582 shares of the biopharmaceutical company’s stock valued at $153,215,000 after acquiring an additional 604,251 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.