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

Celldex Therapeutics, Inc. (NASDAQ:CLDX) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 7,390,000 shares, an increase of 5.7% from the June 30th total of 6,990,000 shares. Based on an average daily trading volume, of 641,800 shares, the short-interest ratio is currently 11.5 days.

Wall Street Analysts Forecast Growth

CLDX has been the subject of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 price target on shares of Celldex Therapeutics in a research note on Tuesday. Wolfe Research assumed coverage on Celldex Therapeutics in a research report on Tuesday, June 11th. They set an “outperform” rating and a $51.00 target price for the company. Stifel Nicolaus started coverage on shares of Celldex Therapeutics in a research report on Tuesday, June 18th. They issued a “buy” rating and a $58.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Celldex Therapeutics in a research note on Tuesday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.17.

Insider Transactions at Celldex Therapeutics

In other news, CFO Samuel Bates Martin sold 17,172 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $35.42, for a total transaction of $608,232.24. Following the completion of the sale, the chief financial officer now owns 28,125 shares of the company’s stock, valued at approximately $996,187.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Samuel Bates Martin sold 17,172 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $35.42, for a total value of $608,232.24. Following the completion of the sale, the chief financial officer now directly owns 28,125 shares of the company’s stock, valued at approximately $996,187.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard M. Wright sold 46,844 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $33.72, for a total value of $1,579,579.68. Following the completion of the sale, the vice president now owns 20,833 shares of the company’s stock, valued at approximately $702,488.76. The disclosure for this sale can be found here. Insiders have sold a total of 266,332 shares of company stock worth $9,155,821 in the last ninety days. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CLDX. Wellington Management Group LLP boosted its position in Celldex Therapeutics by 19.2% in the 4th quarter. Wellington Management Group LLP now owns 6,476,561 shares of the biopharmaceutical company’s stock valued at $256,860,000 after buying an additional 1,044,728 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Celldex Therapeutics by 19.8% in the first quarter. Vanguard Group Inc. now owns 3,650,582 shares of the biopharmaceutical company’s stock valued at $153,215,000 after purchasing an additional 604,251 shares during the period. Eventide Asset Management LLC grew its stake in Celldex Therapeutics by 126.9% in the fourth quarter. Eventide Asset Management LLC now owns 3,630,013 shares of the biopharmaceutical company’s stock worth $143,966,000 after purchasing an additional 2,030,013 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Celldex Therapeutics by 631.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,087,208 shares of the biopharmaceutical company’s stock worth $129,571,000 after purchasing an additional 2,664,915 shares during the period. Finally, Bellevue Group AG raised its position in Celldex Therapeutics by 15.7% during the 1st quarter. Bellevue Group AG now owns 2,796,615 shares of the biopharmaceutical company’s stock valued at $117,374,000 after purchasing an additional 380,319 shares in the last quarter.

Celldex Therapeutics Stock Performance

CLDX opened at $38.44 on Wednesday. The stock’s 50 day moving average price is $36.76 and its 200-day moving average price is $39.16. Celldex Therapeutics has a one year low of $22.11 and a one year high of $53.18. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -13.49 and a beta of 1.58.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings data on Monday, May 6th. The biopharmaceutical company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.11. Celldex Therapeutics had a negative return on equity of 29.55% and a negative net margin of 2,385.57%. The company had revenue of $0.16 million for the quarter, compared to the consensus estimate of $1.30 million. As a group, analysts predict that Celldex Therapeutics will post -2.39 earnings per share for the current fiscal year.

Celldex Therapeutics Company Profile

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.