BidaskClub Lowers Celldex Therapeutics (CLDX) to Strong Sell

Celldex Therapeutics (NASDAQ:CLDX) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday.

CLDX has been the subject of a number of other reports. HC Wainwright reiterated a “buy” rating on shares of Celldex Therapeutics in a research note on Tuesday, November 7th. Cantor Fitzgerald restated a “buy” rating and set a $9.00 target price on shares of Celldex Therapeutics in a research report on Tuesday, September 26th. Finally, WBB Securities restated a “buy” rating and set a $10.00 target price on shares of Celldex Therapeutics in a research report on Wednesday, December 6th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $7.05.

Shares of Celldex Therapeutics (CLDX) remained flat at $$2.86 during mid-day trading on Thursday. The company had a trading volume of 1,757,700 shares, compared to its average volume of 1,130,000. Celldex Therapeutics has a 52 week low of $2.20 and a 52 week high of $3.97. The stock has a market capitalization of $388.92, a P/E ratio of -2.83 and a beta of 2.73.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.07. Celldex Therapeutics had a negative net margin of 1,088.58% and a negative return on equity of 46.94%. The firm had revenue of $3.90 million during the quarter, compared to analyst estimates of $1.30 million. During the same period in the previous year, the business posted ($0.29) earnings per share. The business’s revenue for the quarter was up 77.3% on a year-over-year basis. sell-side analysts predict that Celldex Therapeutics will post -0.93 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nationwide Fund Advisors grew its position in Celldex Therapeutics by 3.5% during the second quarter. Nationwide Fund Advisors now owns 111,757 shares of the biopharmaceutical company’s stock valued at $276,000 after buying an additional 3,742 shares during the period. Cornerstone Capital Management Holdings LLC. grew its position in Celldex Therapeutics by 5.6% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 105,817 shares of the biopharmaceutical company’s stock valued at $261,000 after buying an additional 5,632 shares during the period. Voya Investment Management LLC grew its position in Celldex Therapeutics by 17.4% during the second quarter. Voya Investment Management LLC now owns 50,535 shares of the biopharmaceutical company’s stock valued at $125,000 after buying an additional 7,499 shares during the period. The Manufacturers Life Insurance Company grew its position in Celldex Therapeutics by 27.3% during the second quarter. The Manufacturers Life Insurance Company now owns 99,535 shares of the biopharmaceutical company’s stock valued at $246,000 after buying an additional 21,355 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Celldex Therapeutics by 3.6% during the third quarter. Bank of New York Mellon Corp now owns 622,430 shares of the biopharmaceutical company’s stock valued at $1,780,000 after buying an additional 21,905 shares during the period. Institutional investors own 52.46% of the company’s stock.

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About Celldex Therapeutics

Celldex Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of several immunotherapy technologies for the treatment of cancer and other diseases. Its lead drug Rintega (also referred to as rindopepimut and CDX-110) is a therapeutic vaccine, which is meant for the treatment of glioblastoma patients.

Analyst Recommendations for Celldex Therapeutics (NASDAQ:CLDX)

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