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

Celldex Therapeutics, Inc. (NASDAQ:CLDX) reached a new 52-week low during mid-day 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.

Several other brokerages have also recently weighed in on CLDX. UBS Group began coverage on Celldex Therapeutics in a report on Thursday, February 13th. They set a “buy” rating and a $44.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Celldex Therapeutics in a report on Friday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 target price on shares of Celldex Therapeutics in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Celldex Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $55.38.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Deep Track Capital LP bought a new position in Celldex Therapeutics in the fourth quarter worth $38,919,000. Wellington Management Group LLP lifted its position in Celldex Therapeutics by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 9,243,599 shares of the biopharmaceutical company’s stock valued at $314,190,000 after acquiring an additional 1,167,659 shares during the period. Point72 Asset Management L.P. boosted its stake in Celldex Therapeutics by 50.8% during the fourth quarter. Point72 Asset Management L.P. now owns 2,515,972 shares of the biopharmaceutical company’s stock worth $63,579,000 after acquiring an additional 847,264 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings 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 worth $89,890,000 after purchasing an additional 676,771 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Celldex Therapeutics by 32.0% during the third quarter. Jennison Associates LLC now owns 1,324,410 shares of the biopharmaceutical company’s stock valued at $45,017,000 after purchasing an additional 321,325 shares in the last quarter.

Celldex Therapeutics Stock Performance

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

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.73) by $0.02. Celldex Therapeutics had a negative return on equity of 19.75% and a negative net margin of 1,544.32%. The business had revenue of $1.18 million for the quarter, compared to the consensus estimate of $1.25 million. As a group, research analysts forecast that Celldex Therapeutics, Inc. will post -2.48 earnings per share 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.