Sofinnova Investments Inc. Lowers Stake in Celldex Therapeutics, Inc. (NASDAQ:CLDX)

Sofinnova Investments Inc. decreased its position in shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) by 31.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 547,707 shares of the biopharmaceutical company’s stock after selling 254,070 shares during the period. Celldex Therapeutics accounts for approximately 1.1% of Sofinnova Investments Inc.’s portfolio, making the stock its 25th largest holding. Sofinnova Investments Inc. owned approximately 0.83% of Celldex Therapeutics worth $20,271,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new position in shares of Celldex Therapeutics during the 4th quarter worth $288,000. Swiss National Bank lifted its position in Celldex Therapeutics by 9.9% during the fourth quarter. Swiss National Bank now owns 97,000 shares of the biopharmaceutical company’s stock worth $3,847,000 after buying an additional 8,700 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Celldex Therapeutics by 13.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 409,391 shares of the biopharmaceutical company’s stock worth $16,236,000 after buying an additional 47,844 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Celldex Therapeutics by 48.9% in the 4th quarter. BNP Paribas Financial Markets now owns 136,601 shares of the biopharmaceutical company’s stock valued at $5,418,000 after buying an additional 44,878 shares during the period. Finally, UBS Group AG grew its holdings in Celldex Therapeutics by 645.9% in the 4th quarter. UBS Group AG now owns 158,092 shares of the biopharmaceutical company’s stock valued at $6,270,000 after buying an additional 136,897 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wolfe Research started coverage on shares of Celldex Therapeutics in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $51.00 target price on the stock. Stifel Nicolaus began coverage on shares of Celldex Therapeutics in a research note on Tuesday, June 18th. They set a “buy” rating and a $58.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Celldex Therapeutics in a research report on Monday, August 12th. Wells Fargo & Company boosted their price target on Celldex Therapeutics from $35.00 to $37.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 price objective on shares of Celldex Therapeutics in a report on Monday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.83.

Celldex Therapeutics Price Performance

NASDAQ:CLDX opened at $42.86 on Tuesday. The business’s 50-day moving average is $38.27 and its two-hundred day moving average is $38.84. The firm has a market capitalization of $2.84 billion, a PE ratio of -15.04 and a beta of 1.56. Celldex Therapeutics, Inc. has a 12 month low of $22.11 and a 12 month high of $53.18.

Celldex Therapeutics (NASDAQ:CLDX) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.05. The business had revenue of $2.50 million during the quarter, compared to analyst estimates of $1.13 million. Celldex Therapeutics had a negative return on equity of 23.66% and a negative net margin of 1,809.18%. Equities analysts anticipate that Celldex Therapeutics, Inc. will post -2.5 EPS for the current year.

Celldex Therapeutics 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.