Celldex Therapeutics (CLDX) Stock Price Up 10.8%

Celldex Therapeutics, Inc. (NASDAQ:CLDX) rose 10.8% during mid-day trading on Wednesday . The stock traded as high as $5.84 and last traded at $5.53. Approximately 1,245,907 shares were traded during trading, an increase of 190% from the average daily volume of 429,254 shares. The stock had previously closed at $4.99.

CLDX has been the subject of several research analyst reports. HC Wainwright set a $30.00 price target on Celldex Therapeutics and gave the stock a “buy” rating in a research note on Monday, November 19th. Bank of America raised Celldex Therapeutics from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 15th. Zacks Investment Research upgraded Celldex Therapeutics from a “hold” rating to a “buy” rating and set a $3.75 price objective on the stock in a report on Monday, January 14th. Finally, ValuEngine upgraded Celldex Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $30.94.

The firm has a market capitalization of $820.94 million, a P/E ratio of -6.98 and a beta of 4.47.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLDX. Renaissance Technologies LLC increased its holdings in shares of Celldex Therapeutics by 2,633.4% in the second quarter. Renaissance Technologies LLC now owns 4,220,687 shares of the biopharmaceutical company’s stock worth $2,126,000 after buying an additional 4,066,273 shares during the period. BlackRock Inc. increased its holdings in shares of Celldex Therapeutics by 6.2% in the third quarter. BlackRock Inc. now owns 3,801,667 shares of the biopharmaceutical company’s stock worth $1,715,000 after buying an additional 223,231 shares during the period. GSA Capital Partners LLP increased its holdings in shares of Celldex Therapeutics by 98.6% in the third quarter. GSA Capital Partners LLP now owns 1,270,500 shares of the biopharmaceutical company’s stock worth $573,000 after buying an additional 630,700 shares during the period. Vanguard Group Inc. increased its holdings in shares of Celldex Therapeutics by 7.5% in the third quarter. Vanguard Group Inc. now owns 6,047,564 shares of the biopharmaceutical company’s stock worth $2,728,000 after buying an additional 421,700 shares during the period. Finally, Vanguard Group Inc increased its holdings in shares of Celldex Therapeutics by 7.5% in the third quarter. Vanguard Group Inc now owns 6,047,564 shares of the biopharmaceutical company’s stock worth $2,728,000 after buying an additional 421,700 shares during the period. Hedge funds and other institutional investors own 27.77% of the company’s stock.

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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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