Celldex Therapeutics (NASDAQ:CLDX) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Celldex Therapeutics, Inc. (NASDAQ:CLDX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.20 and traded as high as $35.39. Celldex Therapeutics shares last traded at $34.09, with a volume of 1,143,622 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wolfe Research upgraded shares of Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Monday, March 23rd. Wall Street Zen upgraded shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 price objective (up from $58.00) on shares of Celldex Therapeutics in a report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Monday, April 20th. Finally, Barclays upped their price objective on shares of Celldex Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.30.

Celldex Therapeutics Price Performance

The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -8.00 and a beta of 0.95. The firm has a fifty day simple moving average of $32.03 and a 200 day simple moving average of $29.20.

Celldex Therapeutics (NASDAQ:CLDX) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($1.15) by ($0.03). The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.80 million. Research analysts predict that Celldex Therapeutics, Inc. will post -4.36 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Seven Fleet Capital Management LP acquired a new stake in shares of Celldex Therapeutics in the first quarter valued at about $929,000. Glenmede Trust Co. NA purchased a new stake in shares of Celldex Therapeutics during the 1st quarter valued at approximately $357,000. Bank of America Corp DE lifted its stake in shares of Celldex Therapeutics by 70.8% in the 1st quarter. Bank of America Corp DE now owns 708,647 shares of the biopharmaceutical company’s stock valued at $22,478,000 after purchasing an additional 293,759 shares during the last quarter. Stempoint Capital LP acquired a new position in Celldex Therapeutics in the first quarter valued at about $8,065,000. Finally, Amundi acquired a new position in shares of Celldex Therapeutics in the 1st quarter worth approximately $297,000.

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.