Celldex Therapeutics (CLDX) Shares Down 4.6%

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Celldex Therapeutics, Inc. (NASDAQ:CLDX) dropped 4.6% on Tuesday . The stock traded as low as $0.32 and last traded at $0.31. Approximately 1,984,466 shares traded hands during trading, an increase of 13% from the average daily volume of 1,754,376 shares. The stock had previously closed at $0.32.

CLDX has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Celldex Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. HC Wainwright set a $2.00 price objective on shares of Celldex Therapeutics and gave the stock a “buy” rating in a research report on Thursday, August 9th. Cowen reaffirmed a “hold” rating on shares of Celldex Therapeutics in a research report on Thursday, August 9th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Celldex Therapeutics in a research report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $3.75.

The company has a market capitalization of $56.53 million, a P/E ratio of -0.40 and a beta of 2.29.

Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.11) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.03. The firm had revenue of $2.76 million during the quarter, compared to the consensus estimate of $2.70 million. Celldex Therapeutics had a negative return on equity of 47.40% and a negative net margin of 1,159.26%. Research analysts anticipate that Celldex Therapeutics, Inc. will post -0.44 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. LMR Partners LLP acquired a new position in Celldex Therapeutics during the second quarter worth about $206,000. GSA Capital Partners LLP acquired a new position in Celldex Therapeutics during the second quarter worth about $322,000. Paloma Partners Management Co raised its stake in Celldex Therapeutics by 5,357.8% during the second quarter. Paloma Partners Management Co now owns 640,799 shares of the biopharmaceutical company’s stock worth $323,000 after acquiring an additional 629,058 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Celldex Therapeutics by 27.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 900,185 shares of the biopharmaceutical company’s stock worth $453,000 after acquiring an additional 195,147 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in Celldex Therapeutics by 378.4% during the second quarter. Acadian Asset Management LLC now owns 1,157,880 shares of the biopharmaceutical company’s stock worth $583,000 after acquiring an additional 915,863 shares in the last quarter. 33.48% of the stock is owned by hedge funds and other institutional investors.

About Celldex Therapeutics (NASDAQ:CLDX)

Celldex Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of various immunotherapy technologies and other cancer-targeting biologics. Its drug candidates include glembatumumab vedotin, an antibody-drug that is in Phase IIb study for the treatment of triple negative breast cancer and a Phase II study for the treatment of metastatic melanoma; Varlilumab, an immune modulating antibody that is in a Phase 1 study designed to enhance a patient's immune response against cancer; and CDX-3379, a human monoclonal antibody that is in Phase II study in combination with cetuximab for the treatment of head and neck squamous cell carcinoma.

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