Celldex Therapeutics (CLDX) Trading 11.3% Higher After Strong Earnings

Celldex Therapeutics, Inc. (NASDAQ:CLDX) traded up 11.3% during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $2.82 and last traded at $2.75. 4,792,071 shares were traded during mid-day trading, an increase of 268% from the average session volume of 1,300,475 shares. The stock had previously closed at $2.47.

The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.08. Celldex Therapeutics had a negative return on equity of 44.81% and a negative net margin of 730.06%. The company had revenue of $3.50 million during the quarter, compared to the consensus estimate of $1.49 million. During the same period last year, the company earned ($0.30) earnings per share. The firm’s revenue was up 87.2% compared to the same quarter last year.

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A number of equities analysts have recently issued reports on the company. Leerink Swann restated a “market perform” rating and set a $3.00 price objective (down from $4.00) on shares of Celldex Therapeutics in a research report on Thursday. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Celldex Therapeutics in a research report on Thursday. Cantor Fitzgerald restated a “buy” rating and set a $9.00 price objective on shares of Celldex Therapeutics in a research report on Wednesday. BidaskClub upgraded Celldex Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, WBB Securities restated a “buy” rating and set a $10.00 price objective on shares of Celldex Therapeutics in a research report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $6.38.

A number of hedge funds have recently modified their holdings of the business. MetLife Investment Advisors LLC bought a new stake in Celldex Therapeutics in the fourth quarter worth approximately $187,000. Millennium Management LLC increased its holdings in Celldex Therapeutics by 21.8% in the fourth quarter. Millennium Management LLC now owns 2,241,521 shares of the biopharmaceutical company’s stock worth $6,366,000 after purchasing an additional 400,965 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in Celldex Therapeutics by 72.3% in the fourth quarter. TIAA CREF Investment Management LLC now owns 651,531 shares of the biopharmaceutical company’s stock worth $1,850,000 after purchasing an additional 273,433 shares in the last quarter. Teachers Advisors LLC increased its holdings in Celldex Therapeutics by 29.0% in the fourth quarter. Teachers Advisors LLC now owns 372,815 shares of the biopharmaceutical company’s stock worth $1,059,000 after purchasing an additional 83,910 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in Celldex Therapeutics in the fourth quarter worth approximately $800,000. Institutional investors and hedge funds own 57.55% of the company’s stock.

The company has a market capitalization of $383.48, a price-to-earnings ratio of -2.79 and a beta of 2.63.

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Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc 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. Its lead drug Rintega (also referred to as rindopepimut and CDX-110) is a therapeutic vaccine, which is meant for the treatment of glioblastoma patients.

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