Celldex Therapeutics (NASDAQ:CLDX) Shares Gap Up – What’s Next?

Celldex Therapeutics, Inc. (NASDAQ:CLDX) gapped up before the market opened 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 changing hands.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup assumed coverage on Celldex Therapeutics in a research report on Monday, October 7th. They set a “buy” rating and a $70.00 price target on the stock. Wells Fargo & Company upgraded shares of Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 price target on shares of Celldex Therapeutics in a report on Thursday, January 2nd. Wolfe Research downgraded shares of Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Friday, September 27th. Finally, HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Celldex Therapeutics in a report on Thursday, December 19th. Two investment 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

Celldex Therapeutics Stock Performance

The business’s 50 day moving average is $26.11 and its 200 day moving average is $32.56. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -11.02 and a beta of 1.62.

Insider Buying and Selling at Celldex Therapeutics

In other news, CEO Anthony S. Marucci purchased 11,500 shares of Celldex Therapeutics stock in a transaction dated Monday, November 11th. The stock was acquired 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 directly owns 40,284 shares in the company, valued at $1,080,416.88. This represents a 39.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Celldex Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. KBC Group NV boosted its stake in shares of Celldex Therapeutics by 31.2% during the 3rd quarter. KBC Group NV now owns 2,081 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 495 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Celldex Therapeutics during the second quarter valued at approximately $76,000. Los Angeles Capital Management LLC lifted its stake in shares of Celldex Therapeutics by 9.5% in the second quarter. Los Angeles Capital Management LLC now owns 7,371 shares of the biopharmaceutical company’s stock worth $273,000 after buying an additional 638 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Celldex Therapeutics by 1,364.9% during the 2nd quarter. Quest Partners LLC now owns 7,383 shares of the biopharmaceutical company’s stock worth $273,000 after buying an additional 6,879 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Celldex Therapeutics by 23.7% during the 2nd quarter. AQR Capital Management LLC now owns 7,857 shares of the biopharmaceutical company’s stock worth $291,000 after buying an additional 1,504 shares during the period.

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.