Celldex Therapeutics (NASDAQ:CLDX) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.24 and traded as high as $22.37. Celldex Therapeutics shares last traded at $21.98, with a volume of 978,039 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CLDX shares. UBS Group dropped their price target on Celldex Therapeutics from $44.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Celldex Therapeutics in a research note on Friday, June 13th. Morgan Stanley dropped their price target on Celldex Therapeutics from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th. Canaccord Genuity Group started coverage on Celldex Therapeutics in a research note on Monday, April 28th. They set a “buy” rating and a $64.00 price target on the stock. Finally, The Goldman Sachs Group dropped their price target on Celldex Therapeutics from $36.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.11.

Celldex Therapeutics Stock Down 0.6%

The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -8.14 and a beta of 1.13. The stock has a fifty day moving average price of $20.32 and a two-hundred day moving average price of $21.24.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.06). Celldex Therapeutics had a negative return on equity of 23.46% and a negative net margin of 2,366.07%. The company had revenue of $0.70 million during the quarter, compared to analyst estimates of $1.08 million. As a group, research analysts forecast that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

Institutional investors have recently made changes to their positions in the stock. Deep Track Capital LP acquired a new position in Celldex Therapeutics in the fourth quarter valued at $38,919,000. Point72 Asset Management L.P. increased its stake in Celldex Therapeutics by 50.8% in the fourth quarter. Point72 Asset Management L.P. now owns 2,515,972 shares of the biopharmaceutical company’s stock valued at $63,579,000 after purchasing an additional 847,264 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Celldex Therapeutics by 23.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,557,136 shares of the biopharmaceutical company’s stock valued at $89,890,000 after purchasing an additional 676,771 shares during the last quarter. Nuveen LLC acquired a new position in Celldex Therapeutics in the first quarter valued at $7,789,000. Finally, Millennium Management LLC increased its stake in Celldex Therapeutics by 327.3% in the first quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company’s stock valued at $7,259,000 after purchasing an additional 306,330 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.