Celldex Therapeutics (NASDAQ:CLDX) Hits New 52-Week Low – Time to Sell?

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $24.34 and last traded at $24.37, with a volume of 224617 shares changing hands. The stock had previously closed at $25.74.

Analysts Set New Price Targets

A number of brokerages have recently commented on CLDX. The Goldman Sachs Group assumed coverage on Celldex Therapeutics in a research report on Monday, September 30th. They issued a “neutral” rating and a $45.00 price target on the stock. Wolfe Research cut Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 27th. Wells Fargo & Company upgraded Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 26th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Celldex Therapeutics in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

Celldex Therapeutics Stock Performance

The business’s fifty day moving average price is $31.89 and its 200-day moving average price is $35.43. The stock has a market cap of $1.56 billion, a PE ratio of -9.16 and a beta of 1.60.

Insider Activity at Celldex Therapeutics

In related news, CEO Anthony S. Marucci bought 11,500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was acquired at an average cost of $26.82 per share, for a total transaction of $308,430.00. Following the purchase, the chief executive officer now owns 40,284 shares in the company, valued at approximately $1,080,416.88. This represents a 39.95 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.80% of the stock is owned by insiders.

Institutional Trading of Celldex Therapeutics

Several large investors have recently modified their holdings of CLDX. Novo Holdings A S boosted its position in Celldex Therapeutics by 13.4% in 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. Price T Rowe Associates Inc. MD grew its position in Celldex Therapeutics by 631.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,087,208 shares of the biopharmaceutical company’s stock valued at $129,571,000 after buying an additional 2,664,915 shares during the period. Swiss National Bank increased its holdings in Celldex Therapeutics by 17.8% during the first quarter. Swiss National Bank now owns 114,300 shares of the biopharmaceutical company’s stock valued at $4,797,000 after buying an additional 17,300 shares during the last quarter. Bellevue Group AG raised its position in Celldex Therapeutics by 15.7% in the first quarter. Bellevue Group AG now owns 2,796,615 shares of the biopharmaceutical company’s stock worth $117,374,000 after acquiring an additional 380,319 shares during the period. Finally, AlphaCentric Advisors LLC boosted its stake in shares of Celldex Therapeutics by 23.4% during the 2nd quarter. AlphaCentric Advisors LLC now owns 47,500 shares of the biopharmaceutical company’s stock worth $1,758,000 after acquiring an additional 9,000 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.