Celldex Therapeutics, Inc. (NASDAQ:CLDX) Sees Significant Growth in Short Interest

Celldex Therapeutics, Inc. (NASDAQ:CLDX) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 6,560,000 shares, a growth of 11.2% from the March 15th total of 5,900,000 shares. Based on an average daily volume of 952,500 shares, the days-to-cover ratio is currently 6.9 days.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. TD Cowen started coverage on shares of Celldex Therapeutics in a research report on Wednesday, December 20th. They set an “outperform” rating for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 price target on shares of Celldex Therapeutics in a report on Friday, March 22nd. Finally, Guggenheim increased their price target on shares of Celldex Therapeutics from $72.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Celldex Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $66.00.

Institutional Investors Weigh In On Celldex Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of Celldex Therapeutics by 5.9% in the 3rd quarter. Wellington Management Group LLP now owns 5,431,833 shares of the biopharmaceutical company’s stock worth $149,484,000 after purchasing an additional 300,406 shares during the period. GSA Capital Partners LLP lifted its position in Celldex Therapeutics by 192.0% during the 3rd quarter. GSA Capital Partners LLP now owns 44,716 shares of the biopharmaceutical company’s stock valued at $1,231,000 after acquiring an additional 29,404 shares during the period. SG Americas Securities LLC lifted its position in Celldex Therapeutics by 1,481.7% during the 3rd quarter. SG Americas Securities LLC now owns 78,011 shares of the biopharmaceutical company’s stock valued at $2,147,000 after acquiring an additional 73,079 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Celldex Therapeutics during the 4th quarter valued at about $994,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Celldex Therapeutics by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 361,547 shares of the biopharmaceutical company’s stock valued at $9,950,000 after acquiring an additional 10,818 shares during the period.

Celldex Therapeutics Price Performance

Celldex Therapeutics stock traded down $0.47 during trading hours on Tuesday, reaching $38.60. The stock had a trading volume of 722,557 shares, compared to its average volume of 906,141. The stock has a market cap of $2.16 billion, a PE ratio of -13.43 and a beta of 1.50. Celldex Therapeutics has a 52 week low of $22.11 and a 52 week high of $53.18. The company has a fifty day simple moving average of $41.95 and a 200-day simple moving average of $35.60.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.19. The business had revenue of $4.13 million for the quarter, compared to analyst estimates of $1.20 million. Celldex Therapeutics had a negative net margin of 2,054.46% and a negative return on equity of 41.06%. Research analysts predict that Celldex Therapeutics will post -2.85 earnings per share for the current fiscal year.

About Celldex Therapeutics

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.