Celldex Therapeutics (CLDX) Sets New 52-Week Low at $0.49

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $0.49 and last traded at $0.50, with a volume of 158445 shares. The stock had previously closed at $0.52.

A number of brokerages recently commented on CLDX. Zacks Investment Research raised shares of Celldex Therapeutics from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research note on Tuesday, June 19th. ValuEngine raised Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. HC Wainwright set a $2.00 price target on Celldex Therapeutics and gave the stock a “buy” rating in a research report on Thursday, May 17th. Cowen reaffirmed a “hold” rating on shares of Celldex Therapeutics in a research report on Thursday, May 10th. Finally, BidaskClub raised Celldex Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, April 14th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $3.75.

The stock has a market capitalization of $74.75 million, a PE ratio of -0.63 and a beta of 2.47.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings results on Thursday, May 10th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The business had revenue of $4.07 million for the quarter, compared to analyst estimates of $2.03 million. Celldex Therapeutics had a negative return on equity of 47.36% and a negative net margin of 1,157.96%. sell-side analysts forecast that Celldex Therapeutics, Inc. will post -0.6 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of CLDX. Teacher Retirement System of Texas grew its holdings in shares of Celldex Therapeutics by 325.0% during the fourth quarter. Teacher Retirement System of Texas now owns 43,253 shares of the biopharmaceutical company’s stock valued at $123,000 after buying an additional 33,077 shares during the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Celldex Therapeutics during the fourth quarter valued at $187,000. Bank of New York Mellon Corp grew its holdings in shares of Celldex Therapeutics by 11.0% during the fourth quarter. Bank of New York Mellon Corp now owns 690,631 shares of the biopharmaceutical company’s stock valued at $1,961,000 after buying an additional 68,201 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Celldex Therapeutics during the fourth quarter valued at $238,000. Finally, Teachers Advisors LLC grew its holdings in shares of Celldex Therapeutics by 29.0% during the fourth quarter. Teachers Advisors LLC now owns 372,815 shares of the biopharmaceutical company’s stock valued at $1,059,000 after buying an additional 83,910 shares during the last quarter. 51.65% of the stock is currently owned by institutional investors and hedge funds.

About Celldex Therapeutics

Celldex Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of various immunotherapy technologies and other cancer-targeting biologics. Its drug candidates include glembatumumab vedotin, an antibody-drug that is in Phase IIb study for the treatment of triple negative breast cancer and a Phase II study for the treatment of metastatic melanoma; Varlilumab, an immune modulating antibody that is in a Phase 1 study designed to enhance a patient's immune response against cancer; and CDX-3379, a human monoclonal antibody that is in Phase II study in combination with cetuximab for the treatment of head and neck squamous cell carcinoma.

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