Celldex Therapeutics (NASDAQ:CLDX) Shares Gap Up - Should You Buy?

Celldex Therapeutics, Inc. (NASDAQ:CLDX) saw its shares gap up significantly at the market's opening on Wednesday. Previously closing at $27.60, the stock opened at $28.75, indicating a noticeable increase. As of the most recent trading session, the shares were last seen at $27.28 with a trading volume of 216,928 shares.

Analysts Set New Price Targets

Recently, multiple research firms have issued reports regarding Celldex Therapeutics (CLDX). The Goldman Sachs Group began coverage of the shares on September 30th, rating them as "neutral" and setting a price target at $45.00. Meanwhile, Wells Fargo & Company upgraded the stock's rating from "hold" to "strong buy" on September 26th. HC Wainwright also contributed to the positive sentiment by maintaining a "buy" rating and establishing a price objective of $80.00 as of December 19th. Cantor Fitzgerald echoed this optimism, reaffirming an "overweight" rating with a target price of $67.00 on January 2nd. Additionally, Citigroup initiated coverage on October 7th with a "buy" rating and a price target of $70.00.

Overall, out of the analysts surveyed, two have categorized the stock with a hold rating, while five analysts have given it a buy recommendation. One analyst has assigned a strong buy rating, resulting in an average rating of "Moderate Buy" with an average price target of $62.25 according to MarketBeat.com.

Celldex Therapeutics Trading Up 2.6 %

The performance of Celldex Therapeutics has shown an upward trend, currently trading up by 2.6%. It has a 50-day moving average of $26.11 and a 200-day moving average of $32.56. The company boasts a market capitalization of $1.88 billion, with a price-to-earnings ratio of -11.02 and a beta of 1.62, reflecting its volatility and market performance.

Insiders Place Their Bets

In the realm of insider trading, CEO Anthony S. Marucci recently purchased 11,500 shares of Celldex Therapeutics stock on November 11th. The shares were acquired at an average price of $26.82 each, totaling an investment of approximately $308,430. After this purchase, Marucci now holds a total of 40,284 shares valued at around $1,080,416.88, representing a substantial 39.95% increase in his ownership of the company's stock. This transaction was officially disclosed in a filing with the SEC.

It is noteworthy that corporate insiders collectively own about 3.80% of Celldex Therapeutics stock.

Hedge Funds Weigh In On Celldex Therapeutics

Institutional investors and hedge funds have also taken notice of Celldex Therapeutics. For instance, Novo Holdings A S increased its stake in the company by 13.4% during the third quarter, now holding 963,663 shares valued at approximately $32,755,000 after acquiring an additional 113,663 shares. Similarly, Jennison Associates LLC boosted its position by 32.0%, now owning 1,324,410 shares worth $45,017,000, following the purchase of 321,325 additional shares.

Furthermore, Point72 Asset Management L.P. raised its position by 51.0% in the second quarter, bringing its total to 1,937,991 shares valued at about $71,725,000 after acquiring 654,194 additional shares. Bank of New York Mellon Corp also grew its stake by 14.6%, currently owning 230,162 shares valued at $8,518,000 after buying an extra 29,324 shares. BNP Paribas Financial Markets recorded the most substantial increase, raising its position by 293.2% in the third quarter, now owning 28,181 shares worth $958,000 after purchasing 21,013 shares.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc. is a biopharmaceutical company focused on developing therapeutic monoclonal and bispecific antibodies aimed at treating numerous diseases. Its drug candidates are primarily concentrated on antibody-based therapies for patients suffering from inflammatory, allergic, autoimmune, and other debilitating conditions.

Should You Invest $1,000 in Celldex Therapeutics Right Now?

Before deciding whether to invest in Celldex Therapeutics, it is important to consider other options as well. MarketBeat tracks recommendations from top-rated analysts and has identified stocks that they currently favor over Celldex Therapeutics. Although analysts have assigned a "Moderate Buy" rating to Celldex, they believe that these alternative five stocks may offer better investment opportunities.

In summary, the latest developments surrounding Celldex Therapeutics highlight a potentially positive trajectory for the company, given the upward trend in stock prices and favorable analyst ratings. However, prospective investors should perform thorough due diligence and consider all factors before making investment decisions.

Celldex, Stocks, Investment