Celldex Therapeutics (NASDAQ:CLDX) Shares Gap Up – Here’s What Happened

Celldex Therapeutics, Inc. (NASDAQ:CLDX) 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 Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wolfe Research downgraded shares of Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 27th. The Goldman Sachs Group began coverage on Celldex Therapeutics in a research note on Monday, September 30th. They set a “neutral” rating and a $45.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Celldex Therapeutics in a research note on Thursday, December 19th. Wells Fargo & Company raised Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Citigroup assumed coverage on shares of Celldex Therapeutics in a research report on Monday, October 7th. They issued a “buy” rating and a $70.00 price target for the company. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Celldex Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $62.25.

Celldex Therapeutics Trading Down 8.1 %

The stock has a market cap of $1.62 billion, a P/E ratio of -9.48 and a beta of 1.62. The company’s 50-day simple moving average is $26.12 and its 200 day simple moving average is $32.47.

Insider Buying and Selling at Celldex Therapeutics

In related news, CEO Anthony S. Marucci purchased 11,500 shares of Celldex Therapeutics stock in a transaction dated Monday, November 11th. The stock was bought at an average cost of $26.82 per share, for a total transaction of $308,430.00. Following the completion of the transaction, the chief executive officer now owns 40,284 shares in the company, valued at $1,080,416.88. This trade represents a 39.95 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Celldex Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky lifted its stake in Celldex Therapeutics by 5.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 42,628 shares of the biopharmaceutical company’s stock worth $1,449,000 after purchasing an additional 2,070 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Celldex Therapeutics by 0.4% in the third quarter. Geode Capital Management LLC now owns 1,540,513 shares of the biopharmaceutical company’s stock worth $52,372,000 after buying an additional 6,557 shares in the last quarter. Barclays PLC boosted its stake in Celldex Therapeutics by 140.7% during the third quarter. Barclays PLC now owns 130,381 shares of the biopharmaceutical company’s stock valued at $4,431,000 after buying an additional 76,207 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in shares of Celldex Therapeutics by 11.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 30,538 shares of the biopharmaceutical company’s stock valued at $1,038,000 after acquiring an additional 3,146 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Celldex Therapeutics during the 3rd quarter valued at about $1,561,000.

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.