Celldex Therapeutics (NASDAQ:CLDX) Hits New 12-Month Low Following Analyst Downgrade

Celldex Therapeutics, Inc. (NASDAQ:CLDX) shares hit a new 52-week low during trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $42.00 to $36.00. The Goldman Sachs Group currently has a neutral rating on the stock. Celldex Therapeutics traded as low as $19.66 and last traded at $19.68, with a volume of 326380 shares trading hands. The stock had previously closed at $20.57.

A number of other analysts also recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Celldex Therapeutics in a report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 target price on shares of Celldex Therapeutics in a research note on Wednesday, January 29th. Finally, UBS Group started coverage on Celldex Therapeutics in a research report on Thursday, February 13th. They set a “buy” rating and a $44.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Celldex Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $55.38.

Institutional Trading of Celldex Therapeutics

Hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its position in shares of Celldex Therapeutics by 215.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,285 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 878 shares in the last quarter. KBC Group NV raised its stake in Celldex Therapeutics by 31.2% during the 3rd quarter. KBC Group NV now owns 2,081 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 495 shares during the period. Headlands Technologies LLC purchased a new position in Celldex Therapeutics during the fourth quarter valued at approximately $81,000. AlphaQuest LLC boosted its position in shares of Celldex Therapeutics by 171.0% in the fourth quarter. AlphaQuest LLC now owns 4,287 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 2,705 shares during the period. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Celldex Therapeutics in the fourth quarter worth $121,000.

Celldex Therapeutics Stock Performance

The company’s 50-day moving average price is $23.75 and its 200 day moving average price is $28.80. The stock has a market capitalization of $1.28 billion, a P/E ratio of -7.53 and a beta of 1.60.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.71) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.02. The business had revenue of $1.18 million for the quarter, compared to analysts’ expectations of $1.25 million. Celldex Therapeutics had a negative return on equity of 19.75% and a negative net margin of 1,544.32%. Analysts predict that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current year.

Celldex Therapeutics Company Profile

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.