Renaissance Technologies LLC Makes New Investment in Celldex Therapeutics, Inc. (NASDAQ:CLDX)

Renaissance Technologies LLC purchased a new stake in Celldex Therapeutics, Inc. (NASDAQ:CLDX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 136,588 shares of the biopharmaceutical company’s stock, valued at approximately $3,452,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in shares of Celldex Therapeutics by 46.5% in the fourth quarter. American Century Companies Inc. now owns 608,457 shares of the biopharmaceutical company’s stock worth $15,376,000 after acquiring an additional 193,093 shares in the last quarter. Sovran Advisors LLC bought a new stake in shares of Celldex Therapeutics in the fourth quarter worth $2,867,000. Fisher Asset Management LLC grew its position in Celldex Therapeutics by 20.9% in the fourth quarter. Fisher Asset Management LLC now owns 452,497 shares of the biopharmaceutical company’s stock valued at $11,435,000 after purchasing an additional 78,145 shares in the last quarter. Barclays PLC increased its position in shares of Celldex Therapeutics by 140.7% in the third quarter. Barclays PLC now owns 130,381 shares of the biopharmaceutical company’s stock valued at $4,431,000 after acquiring an additional 76,207 shares during the last quarter. Finally, Cinctive Capital Management LP increased its position in shares of Celldex Therapeutics by 140.6% during the 4th quarter. Cinctive Capital Management LP now owns 81,320 shares of the biopharmaceutical company’s stock worth $2,055,000 after purchasing an additional 47,523 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. The Goldman Sachs Group decreased their price objective on shares of Celldex Therapeutics from $42.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Morgan Stanley began coverage on Celldex Therapeutics in a research note on Thursday, March 20th. They set an “overweight” rating and a $46.00 target price for the company. UBS Group initiated coverage on shares of Celldex Therapeutics in a report on Thursday, February 13th. They issued a “buy” rating and a $44.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Celldex Therapeutics in a research report on Friday, February 28th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $67.00 target price on shares of Celldex Therapeutics in a research report on Wednesday, January 29th. Two equities 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.33.

Celldex Therapeutics Stock Performance

NASDAQ CLDX opened at $19.39 on Wednesday. The firm’s fifty day moving average price is $19.40 and its two-hundred day moving average price is $23.71. The stock has a market cap of $1.29 billion, a PE ratio of -7.54 and a beta of 1.59. Celldex Therapeutics, Inc. has a fifty-two week low of $14.40 and a fifty-two week high of $47.00.

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

Celldex Therapeutics 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.