It is trading at $2.55 a tad under the 50 day moving average of $2.72 and which is marginally lower than the 200 day moving average of $3.26. The 50 day moving average was down $-0.17 whereas the 200 day average was down by -21.9616%. Celldex Therapeutics, Inc. shares had a trading volume of 1,020K by the end of trading on Wednesday. Shares saw a steep decrease in trading volume of 42.42% under the normal average daily volume.
Traders are feeling more bullish on Celldex Therapeutics, Inc. if you pay attention to the motion in short interest. The firm saw a fall in short interest between June 15, 2017 and May 31, 2017 of -9.13%. Short shares fell 1,737,028 over that timeframe. With short interest at 17,278,691 and short average daily volume at 3,310,822, the short-interest ratio is 5.2 and the short interest percentage is 0.14% as of May 31.
Celldex Therapeutics, Inc. (NASDAQ:CLDX) has been the object of insider buying activity recently. Tibor Keler, Executive VP & CSO reported the purchase of 3,000 shares of (CLDX). The shares were purchased at an average price of $3.32. Keler now owns $62,642 of the stock according to the SEC filing.
These funds have also shifted positions in (CLDX). Morgan Stanley divested its position by shedding 7,851 shares a decrease of 3.6% from 12/31/2016 to 03/31/2017. Morgan Stanley claims 208,463 shares valued at $752,000. The total value of its holdings decreased 1.8%. As of quarter end Goldman Sachs Group Inc had sold 251,407 shares trimming its stake by 90.4%. The value of the investment in (CLDX) decreased from $984,000 to $96,000 a change of 90.2% quarter to quarter.
State Street Corp expanded its stake by buying 202,375 shares an increase of 4.7% as of 03/31/2017. State Street Corp controls 4,525,051 shares worth $16,341,000. The value of the position overall is up by 6.8%. Numeric Investors LLC cut its ownership by shedding 948,170 shares a decrease of 55.9% in the quarter. Numeric Investors LLC owns 746,530 shares with a value of $2,695,000. The value of the position overall is down by 60.6%.
Equity analyst Aegis Capital began coverage of CLDX with an initial rating of “Buy”. On October 4, 2016 Brean Capital started covering the stock by announcing an initial rating of “Buy” and a price target of $16.00.
On March 8 the company was downgraded to “Hold” from “Buy” with a current price target of $4.00 by analysts at Jefferies. March 8 investment analysts at H.C. Wainwright held the stock rating at “Buy” and lowered the price expectation from $25.00 to $6.00.
On March 8 Cowen & Company kept the stock rating at “Outperform” but moved down the price target to $12.00 from $28.00. Equity analyst Jefferies both downgraded the stock and lowered the price target on March 8 changing the price objective from $31.00 to $4.00 and setting the rating at “Hold” which had previously been “Buy”.
The company is so far trading up since yesterday’s close of $2.53. As of the last earnings report the EPS was $-1.19 and is expected to be $-1.11 for the current year with 125,104,000 shares now outstanding. Analysts expect next quarter’s EPS will be $-0.28 and the next full year EPS is anticipated to be $-1.03.
Celldex Therapeutics, Inc., launched on December 9, 1983, is a biopharmaceutical company. The Company is focused on the development and commercialization of several immunotherapy technologies for the treatment of cancer and other diseases. The Company is using the technologies to develop targeted immunotherapeutics consisting of protein-based molecules, such as vaccines, antibodies and antibody-drug conjugates that are used to treat specific types of cancer or other diseases. The Business’s lead drug Rintega (also referred to as rindopepimut and CDX-110) is a therapeutic vaccine, which is in clinical studies for the treatment of glioblastoma patients that express a specific cancer marker known as type III epidermal growth factor receptor mutation (EGFRvIII). Its Glembatumumab vedotin (also referred to as CDX-011) is a targeted antibody-drug conjugate for the treatment of metastatic melanoma. Its Varlilumab (also referred to as CDX-1127) is an immune modulating antibody that is designed to enhance a patient’s immune response against their cancer. The Business’s earlier stage drug candidates in clinical development include CDX-1401, which is a targeted immunotherapeutic aimed at antigen presenting cells (APC) for cancer indications and CDX-301, which is an immune cell mobilizing agent and dendritic cell growth factor. The Business’s pipeline also includes CDX-0158 and CDX-3379..