Short Interest in Celldex Therapeutics, Inc. (NASDAQ:CLDX) Drops By 5.3%

Celldex Therapeutics, Inc. (NASDAQ:CLDX) was the target of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 6,270,000 shares, a decrease of 5.3% from the May 15th total of 6,620,000 shares. Based on an average daily volume of 691,800 shares, the short-interest ratio is presently 9.1 days.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CLDX. Guggenheim increased their price objective on Celldex Therapeutics from $72.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Wolfe Research began coverage on Celldex Therapeutics in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $51.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 target price on shares of Celldex Therapeutics in a research note on Friday, March 22nd. Finally, HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Celldex Therapeutics in a research note on Monday, June 3rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $63.00.

Insider Buying and Selling at Celldex Therapeutics

In other Celldex Therapeutics news, CFO Samuel Bates Martin sold 35,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $34.05, for a total transaction of $1,191,750.00. Following the sale, the chief financial officer now owns 25,128 shares in the company, valued at $855,608.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Margo Heath-Chiozzi sold 38,719 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $34.07, for a total value of $1,319,156.33. Following the sale, the senior vice president now owns 7,094 shares in the company, valued at $241,692.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Samuel Bates Martin sold 35,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $34.05, for a total value of $1,191,750.00. Following the completion of the sale, the chief financial officer now owns 25,128 shares in the company, valued at approximately $855,608.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,160 shares of company stock valued at $7,501,489. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Celldex Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in Celldex Therapeutics in the first quarter worth about $824,000. Artal Group S.A. purchased a new position in shares of Celldex Therapeutics during the first quarter valued at approximately $10,618,000. California State Teachers Retirement System lifted its holdings in shares of Celldex Therapeutics by 13.5% during the first quarter. California State Teachers Retirement System now owns 58,403 shares of the biopharmaceutical company’s stock valued at $2,451,000 after purchasing an additional 6,929 shares during the last quarter. Bayesian Capital Management LP purchased a new position in shares of Celldex Therapeutics during the first quarter valued at approximately $470,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in Celldex Therapeutics in the 1st quarter worth approximately $327,000.

Celldex Therapeutics Price Performance

NASDAQ CLDX opened at $34.91 on Tuesday. Celldex Therapeutics has a 1 year low of $22.11 and a 1 year high of $53.18. The business’s 50-day moving average is $37.66 and its 200 day moving average is $39.04.

Celldex Therapeutics (NASDAQ:CLDX) last posted its earnings results on Monday, May 6th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.67) by $0.11. Celldex Therapeutics had a negative return on equity of 29.55% and a negative net margin of 2,385.57%. The company had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $1.30 million. As a group, research analysts predict that Celldex Therapeutics will post -2.32 EPS for the current fiscal year.

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.