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

Celldex Therapeutics, Inc. (NASDAQ:CLDX) experienced a notable gap up in its share price before the market opened on Wednesday. The stock had closed at $27.60 and opened at $28.75. After opening, Celldex Therapeutics shares recently traded at $27.28, with a total volume of 216,928 shares exchanged during the session.

Recent Analyst Ratings

A number of research firms have recently released reports regarding CLDX shares. On September 30, Goldman Sachs Group initiated coverage on Celldex Therapeutics with a "neutral" rating and set a price target of $45.00. Wells Fargo & Company upgraded their stance on Celldex Therapeutics from "hold" to "strong-buy" on September 26. Additionally, HC Wainwright reaffirmed a "buy" rating on December 19, assigning a target price of $80.00. Cantor Fitzgerald also maintained an "overweight" rating with a price target of $67.00 as reported on January 2. Citigroup took a closer look at the company on October 7, issuing a "buy" rating with a price target of $70.00. In summary, two analysts rated the stock as a hold, while five gave it a buy rating and one assigned it a strong buy rating. Presently, according to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $62.25.

Stock Performance Trends

Celldex Therapeutics has seen a recent uptick in its share price, rising approximately 2.6%. The company's 50-day moving average stands at $26.11, while the 200-day moving average is at $32.56. Celldex Therapeutics currently has a market capitalization of about $1.88 billion, with a price-to-earnings ratio of -11.02 and a beta of 1.62.

Insider Trading Activity

In recent insider trading news, CEO Anthony S. Marucci purchased 11,500 shares of Celldex Therapeutics on November 11, at an average price of $26.82 per share, totaling $308,430. Following this transaction, Marucci now holds 40,284 shares worth around $1,080,416.88, representing a 39.95% increase in his position. This trade has been disclosed in an SEC filing, indicating that around 3.80% of the stock is owned by corporate insiders.

Institutional Investor Movements

Recent moves by institutional investors and hedge funds indicate a growing interest in Celldex Therapeutics. For example, Novo Holdings A S expanded its holdings by 13.4% in the third quarter, acquiring an additional 113,663 shares, bringing its total to 963,663 shares worth $32,755,000. Jennison Associates LLC also increased its stake in Celldex Therapeutics by 32.0% during the same period, now owning 1,324,410 shares valued at approximately $45,017,000 after a purchase of 321,325 shares. Furthermore, Point72 Asset Management L.P. increased its position by 51.0% during the second quarter. Bank of New York Mellon Corp also raised its investment by 14.6%. Lastly, BNP Paribas Financial Markets significantly grew its stake by 293.2% in the recent quarter.

About Celldex Therapeutics

Celldex Therapeutics, Inc. is a biopharmaceutical company focused on developing therapeutic monoclonal and bispecific antibodies. Its main efforts are concentrated on creating drug candidates to treat various conditions, including inflammatory, allergic, and autoimmune diseases.

Conclusion: To Buy or Not?

Before making a decision to invest in Celldex Therapeutics, potential investors should consider recent analyst ratings and the performance of the stock. While CLDX is currently rated as a "Moderate Buy," there are other investment opportunities that top analysts believe may yield better returns at this time.

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