Short Interest in Celldex Therapeutics, Inc. (NASDAQ:CLDX) Expands By 11.2%

Celldex Therapeutics, Inc. (NASDAQ:CLDX) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 6,560,000 shares, an increase of 11.2% from the March 15th total of 5,900,000 shares. Based on an average daily trading volume, of 952,500 shares, the days-to-cover ratio is presently 6.9 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CLDX. Wellington Management Group LLP grew its stake in Celldex Therapeutics by 19.2% during the fourth quarter. Wellington Management Group LLP now owns 6,476,561 shares of the biopharmaceutical company’s stock worth $256,860,000 after buying an additional 1,044,728 shares in the last quarter. Eventide Asset Management LLC boosted its position in shares of Celldex Therapeutics by 126.9% during the 4th quarter. Eventide Asset Management LLC now owns 3,630,013 shares of the biopharmaceutical company’s stock worth $143,966,000 after acquiring an additional 2,030,013 shares in the last quarter. BlackRock Inc. increased its stake in Celldex Therapeutics by 0.8% in the first quarter. BlackRock Inc. now owns 3,250,638 shares of the biopharmaceutical company’s stock valued at $116,958,000 after acquiring an additional 25,922 shares during the last quarter. State Street Corp raised its position in Celldex Therapeutics by 20.4% during the second quarter. State Street Corp now owns 3,228,852 shares of the biopharmaceutical company’s stock valued at $87,050,000 after purchasing an additional 546,124 shares in the last quarter. Finally, Kynam Capital Management LP lifted its stake in Celldex Therapeutics by 23.1% during the third quarter. Kynam Capital Management LP now owns 3,200,000 shares of the biopharmaceutical company’s stock worth $88,064,000 after purchasing an additional 600,000 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CLDX shares. TD Cowen started coverage on shares of Celldex Therapeutics in a report on Wednesday, December 20th. They issued an “outperform” rating on the stock. Guggenheim lifted their price target on Celldex Therapeutics from $72.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 price objective on shares of Celldex Therapeutics in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.00.

Celldex Therapeutics Trading Down 4.0 %

Shares of CLDX opened at $39.25 on Monday. Celldex Therapeutics has a 12 month low of $22.11 and a 12 month high of $53.18. The firm’s 50 day moving average is $41.91 and its 200-day moving average is $35.52. The stock has a market capitalization of $2.19 billion, a PE ratio of -13.49 and a beta of 1.49.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings data on Monday, February 26th. The biopharmaceutical company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.19. The firm had revenue of $4.13 million for the quarter, compared to analyst estimates of $1.20 million. Celldex Therapeutics had a negative return on equity of 41.06% and a negative net margin of 2,054.46%. Equities research analysts predict that Celldex Therapeutics will post -2.85 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.