Celldex Therapeutics, Inc. $CLDX Position Trimmed by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its holdings in shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) by 20.1% during the fourth quarter, Holdings Channel reports. The firm owned 968,616 shares of the biopharmaceutical company’s stock after selling 243,374 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Celldex Therapeutics were worth $26,308,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Celldex Therapeutics in the 3rd quarter valued at about $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Celldex Therapeutics during the third quarter worth about $42,000. Russell Investments Group Ltd. raised its stake in Celldex Therapeutics by 27.6% during the second quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 501 shares during the period. Quantbot Technologies LP bought a new position in Celldex Therapeutics in the third quarter worth about $63,000. Finally, Strs Ohio bought a new position in Celldex Therapeutics in the third quarter worth about $75,000.

Celldex Therapeutics Trading Up 2.3%

NASDAQ CLDX opened at $32.88 on Friday. The company has a 50-day moving average price of $31.10 and a two-hundred day moving average price of $27.71. Celldex Therapeutics, Inc. has a 52 week low of $17.85 and a 52 week high of $35.79. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -8.45 and a beta of 1.19.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.22). The firm had revenue of $0.12 million during the quarter, compared to the consensus estimate of $1.53 million. As a group, equities research analysts expect that Celldex Therapeutics, Inc. will post -4.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CLDX. Barclays raised Celldex Therapeutics from an “underweight” rating to an “overweight” rating and upped their target price for the company from $24.00 to $45.00 in a report on Monday, April 20th. Stifel Nicolaus restated a “buy” rating and set a $68.00 price objective (up from $58.00) on shares of Celldex Therapeutics in a research report on Thursday, February 26th. The Goldman Sachs Group upped their price objective on Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Wolfe Research raised Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research report on Monday, March 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $46.36.

About Celldex Therapeutics

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.