Celldex Therapeutics (NASDAQ:CLDX) Hits New 1-Year High on Analyst Upgrade

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) hit a new 52-week high during trading on Monday after Wolfe Research upgraded the stock from a peer perform rating to an outperform rating. Wolfe Research now has a $44.00 price target on the stock. Celldex Therapeutics traded as high as $32.05 and last traded at $33.89, with a volume of 6688 shares trading hands. The stock had previously closed at $30.90.

A number of other analysts have also recently issued reports on the company. Stifel Nicolaus restated a “buy” rating and set a $68.00 price objective (up from $58.00) on shares of Celldex Therapeutics in a research report on Thursday, February 26th. The Goldman Sachs Group lifted their price target on shares of Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Wednesday, January 21st. Finally, Barclays raised their price objective on shares of Celldex Therapeutics from $21.00 to $24.00 and gave the stock an “underweight” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Celldex Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $44.45.

Key Stories Impacting Celldex Therapeutics

Here are the key news stories impacting Celldex Therapeutics this week:

• Positive Sentiment: Wolfe Research upgraded Celldex from “peer perform” to “outperform” and set a $44 price target (about a 41% upside from the referenced price). This is the clearest catalyst for buying interest—an influential shop raising its view and giving a sizable target premium often attracts momentum and institutional demand. Wolfe Research upgrade (Zacks)
• Positive Sentiment: Market commentary noted Celldex’s RS (relative strength) rating jumping to 92, which can trigger technical buying and inclusion on watchlists of momentum-focused traders. Higher RS often draws retail and algorithmic flows. Stocks to watch: Celldex Therapeutics sees RS rating jump to 92
• Positive Sentiment: News coverage reported that the stock gained after analyst upgrades, reinforcing the narrative that fresh analyst optimism is lifting sentiment and trading activity. Celldex Therapeutics stock gains after analyst upgrade (Investing.com)
• Positive Sentiment: Aggregate analyst coverage shows an average recommendation around “Moderate Buy,” which supports the upgrade-driven bullish case and may encourage additional buy-side interest. Celldex Therapeutics receives average “Moderate Buy” (AmericanBankingNews)
• Neutral Sentiment: Multiple short-interest notices published today show short interest = 0 shares and changes of “NaN” across different average-volume baselines—this looks like a data or reporting error rather than a genuine spike in shorting. As reported, the days-to-cover ratios are 0.0 and therefore these items are unlikely to be a real market driver until corrected data appears.

Institutional Investors Weigh In On Celldex Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Invesco Ltd. increased its holdings in shares of Celldex Therapeutics by 14.3% during the fourth quarter. Invesco Ltd. now owns 90,144 shares of the biopharmaceutical company’s stock worth $2,448,000 after buying an additional 11,258 shares in the last quarter. ADAR1 Capital Management LLC boosted its holdings in shares of Celldex Therapeutics by 491.0% in the 4th quarter. ADAR1 Capital Management LLC now owns 646,767 shares of the biopharmaceutical company’s stock worth $17,566,000 after acquiring an additional 537,325 shares in the last quarter. XTX Topco Ltd grew its position in Celldex Therapeutics by 552.7% during the 4th quarter. XTX Topco Ltd now owns 51,523 shares of the biopharmaceutical company’s stock worth $1,399,000 after acquiring an additional 43,629 shares during the last quarter. Virtus Investment Advisers LLC grew its position in Celldex Therapeutics by 72.9% during the 4th quarter. Virtus Investment Advisers LLC now owns 9,671 shares of the biopharmaceutical company’s stock worth $263,000 after acquiring an additional 4,079 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Celldex Therapeutics by 39.3% during the 4th quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company’s stock valued at $219,442,000 after purchasing an additional 2,279,605 shares in the last quarter.

Celldex Therapeutics Stock Performance

The company has a 50-day simple moving average of $26.87 and a 200-day simple moving average of $26.39. The stock has a market cap of $2.08 billion, a P/E ratio of -8.02 and a beta of 1.17.

Celldex Therapeutics (NASDAQ:CLDX) last announced its earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.22). Celldex Therapeutics had a negative return on equity of 41.67% and a negative net margin of 3,446.88%.The business had revenue of $0.12 million for the quarter, compared to the consensus estimate of $1.53 million. As a group, sell-side analysts expect that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal year.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted immunotherapies for cancer and other serious diseases. The company’s research platforms leverage novel antibody and vaccine technologies designed to engage the patient’s immune system, with a particular emphasis on oncology and neurologic indications. Celldex’s pipeline includes both monoclonal antibodies and biologic agents that seek to modulate immune responses or deliver targeted cytotoxic activity.

Among Celldex’s lead product candidates is glembatumumab vedotin, an antibody–drug conjugate directed against the glycoprotein NMB (gpNMB) for the treatment of certain breast and skin cancers.