Celldex Therapeutics (NASDAQ:CLDX) Shares Cross Above 200-Day Moving Average – What’s Next?

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.49 and traded as high as $32.00. Celldex Therapeutics shares last traded at $31.43, with a volume of 494,673 shares trading hands.

Analyst Ratings Changes

Several analysts have recently commented on CLDX shares. Wells Fargo & Company raised their price objective on shares of Celldex Therapeutics from $38.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Wall Street Zen raised shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Barclays raised their target price on shares of Celldex Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Monday, April 20th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 target price (up from $58.00) on shares of Celldex Therapeutics in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Celldex Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $49.78.

Celldex Therapeutics Trading Down 0.9%

The business’s 50 day moving average is $32.16 and its 200 day moving average is $28.49. The stock has a market capitalization of $2.47 billion, a PE ratio of -7.38 and a beta of 0.98.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.03). The company had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.80 million. As a group, analysts anticipate that Celldex Therapeutics, Inc. will post -4.45 EPS for the current year.

Institutional Investors Weigh In On Celldex Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd bought a new stake in Celldex Therapeutics during the 3rd quarter valued at about $26,000. Wilmington Savings Fund Society FSB bought a new stake in Celldex Therapeutics during the 3rd quarter valued at about $42,000. Russell Investments Group Ltd. lifted its holdings in Celldex Therapeutics by 27.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 501 shares in the last quarter. Quantbot Technologies LP bought a new stake in Celldex Therapeutics during the 3rd quarter valued at about $63,000. Finally, Strs Ohio bought a new stake in Celldex Therapeutics during the 3rd quarter valued at about $75,000.

About Celldex Therapeutics

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.