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

Celldex Therapeutics, Inc. (NASDAQ:CLDX) saw a large increase in short interest in December. As of December 31st, there was short interest totaling 8,244,450 shares, an increase of 20.1% from the December 15th total of 6,865,432 shares. Based on an average trading volume of 672,703 shares, the days-to-cover ratio is currently 12.3 days. Currently, 13.0% of the company’s stock are short sold. Currently, 13.0% of the company’s stock are short sold. Based on an average trading volume of 672,703 shares, the days-to-cover ratio is currently 12.3 days.

Celldex Therapeutics Price Performance

Shares of CLDX traded down $0.41 on Tuesday, hitting $25.24. The company’s stock had a trading volume of 89,207 shares, compared to its average volume of 764,561. The company has a 50 day moving average price of $26.54 and a 200 day moving average price of $24.96. Celldex Therapeutics has a fifty-two week low of $14.40 and a fifty-two week high of $30.50. The company has a market capitalization of $1.68 billion, a PE ratio of -7.46 and a beta of 1.19.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Monday, November 10th. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.13). Celldex Therapeutics had a negative net margin of 3,446.88% and a negative return on equity of 33.22%. On average, equities analysts forecast that Celldex Therapeutics will post -2.48 EPS for the current year.

Insider Activity

In other Celldex Therapeutics news, insider Richard M. Wright sold 49,298 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $24.00, for a total value of $1,183,152.00. Following the transaction, the insider owned 20,833 shares in the company, valued at approximately $499,992. This represents a 70.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Celldex Therapeutics

Large investors have recently modified their holdings of the business. Simplify Asset Management Inc. bought a new position in shares of Celldex Therapeutics in the 3rd quarter valued at $2,199,000. Y Intercept Hong Kong Ltd acquired a new stake in Celldex Therapeutics in the second quarter valued at about $1,188,000. Corient Private Wealth LLC bought a new position in Celldex Therapeutics in the second quarter valued at about $4,105,000. American Century Companies Inc. grew its position in Celldex Therapeutics by 24.7% in the second quarter. American Century Companies Inc. now owns 779,985 shares of the biopharmaceutical company’s stock valued at $15,873,000 after acquiring an additional 154,664 shares during the last quarter. Finally, TFG Asset Management GP Ltd raised its stake in Celldex Therapeutics by 21.1% during the second quarter. TFG Asset Management GP Ltd now owns 316,150 shares of the biopharmaceutical company’s stock worth $6,434,000 after acquiring an additional 55,150 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CLDX shares. Mizuho assumed coverage on Celldex Therapeutics in a research report on Tuesday, October 21st. They set an “outperform” rating and a $48.00 price objective for the company. Barclays increased their price target on shares of Celldex Therapeutics from $21.00 to $24.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.10.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted immunotherapies for cancer and other serious diseases. The company’s research platforms leverage novel antibody and vaccine technologies designed to engage the patient’s immune system, with a particular emphasis on oncology and neurologic indications. Celldex’s pipeline includes both monoclonal antibodies and biologic agents that seek to modulate immune responses or deliver targeted cytotoxic activity.

Among Celldex’s lead product candidates is glembatumumab vedotin, an antibody–drug conjugate directed against the glycoprotein NMB (gpNMB) for the treatment of certain breast and skin cancers.