Celldex Therapeutics (NASDAQ:CLDX) Shares Gap Up – Should You Buy?

Celldex Therapeutics, Inc. (NASDAQ:CLDX) shares gapped up prior to trading on Wednesday . The stock had previously closed at $27.60, but opened at $28.75. Celldex Therapeutics shares last traded at $27.28, with a volume of 216,928 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CLDX. The Goldman Sachs Group assumed coverage on Celldex Therapeutics in a report on Monday, September 30th. They set a “neutral” rating and a $45.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Celldex Therapeutics in a report on Thursday, December 19th. Wells Fargo & Company upgraded shares of Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $67.00 price objective on shares of Celldex Therapeutics in a research note on Thursday, January 2nd. Finally, Wolfe Research downgraded Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.25.

Celldex Therapeutics Price Performance

The stock has a 50 day moving average price of $26.12 and a two-hundred day moving average price of $32.47. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -9.48 and a beta of 1.62.

Insider Activity

In related news, CEO Anthony S. Marucci bought 11,500 shares of the company’s stock in a transaction on Monday, November 11th. The shares were purchased at an average cost of $26.82 per share, for a total transaction of $308,430.00. Following the acquisition, the chief executive officer now owns 40,284 shares of the company’s stock, valued at approximately $1,080,416.88. This represents a 39.95 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Celldex Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in shares of Celldex Therapeutics by 14.5% in the third quarter. Wellington Management Group LLP now owns 9,243,599 shares of the biopharmaceutical company’s stock valued at $314,190,000 after buying an additional 1,167,659 shares during the last quarter. Bellevue Group AG raised its holdings in Celldex Therapeutics by 3.4% in the 3rd quarter. Bellevue Group AG now owns 3,071,615 shares of the biopharmaceutical company’s stock valued at $104,404,000 after acquiring an additional 100,000 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Celldex Therapeutics by 51.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,937,991 shares of the biopharmaceutical company’s stock valued at $71,725,000 after buying an additional 654,194 shares during the period. Geode Capital Management LLC raised its position in Celldex Therapeutics by 0.4% during the third quarter. Geode Capital Management LLC now owns 1,540,513 shares of the biopharmaceutical company’s stock valued at $52,372,000 after purchasing an additional 6,557 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Celldex Therapeutics by 53.3% during the 2nd quarter. Marshall Wace LLP now owns 1,377,868 shares of the biopharmaceutical company’s stock worth $50,995,000 after buying an additional 479,068 shares during the last quarter.

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.